More sophisticated technology at whose expense?

Nanotechnology Defined but wait there are Conflicting Definitions:

"Unfortunately, conflicting definitions of nanotechnology and blurry distinctions between significantly different fields have complicated the effort to understand the differences and develop sensible, effective policy. The risks of today's nanoscale technologies (nanoparticle toxicity, etc.) cannot be treated the same as the risks of longer-term molecular manufacturing (economic disruption, unstable arms race, etc.). It is a mistake to put them together in one basket for policy consideration—each is important to address, but they offer different problems and will require different solutions.

As used today, the term nanotechnology usually refers to a broad collection of mostly disconnected fields. Essentially, anything sufficiently small and interesting can be called nanotechnology. Much of it is harmless. For the rest, much of the harm is of familiar and limited quality. But as we will see, molecular manufacturing will bring unfamiliar risks and new classes of problems.

General-Purpose Technology
Nanotechnology is sometimes referred to as a general-purpose technology. That's because in its advanced form it will have significant impact on almost all industries and all areas of society. It will offer better built, longer lasting, cleaner, safer, and smarter products for the home, for communications, for medicine, for transportation, for agriculture, and for industry in general.

Imagine a medical device that travels through the human body to seek out and destroy small clusters of cancerous cells before they can spread. Or a box no larger than a sugar cube that contains the entire contents of the Library of Congress. Or materials much lighter than steel that possess ten times as much strength. — U.S. National Science Foundation.

Dual-Use Technology
Like electricity or computers before it, nanotech will offer greatly improved efficiency in almost every facet of life. But as a general-purpose technology, it will be dual-use, meaning it will have many commercial uses and it also will have many military uses—making far more powerful weapons and tools of surveillance. Thus it represents not only wonderful benefits for humanity, but also grave risks.

A key understanding of nanotechnology is that it offers not just better products, but a vastly improved manufacturing process. A computer can make copies of data files—essentially as many copies as you want at little or no cost. It may be only a matter of time until the building of products becomes as cheap as the copying of files. That's the real meaning of nanotechnology, and why it is sometimes seen as "the next industrial revolution."

My own judgment is that the nanotechnology revolution has the potential to change America on a scale equal to, if not greater than, the computer revolution. — U.S. Senator Ron Wyden (D-Ore.)

The power of nanotechnology can be encapsulated in an apparently simple device called a personal nanofactory that may sit on your countertop or desktop. Packed with miniature chemical processors, computing, and robotics, it will produce a wide-range of items quickly, cleanly, and inexpensively, building products directly from blueprints".

From: The Center of Responsible Nanotechnology (CRN)