As discussed on this site, here and here, an idea was presented concerning liability caps on the nanotechnology industry. Professor David M. Berube, in an article appearing in the journal Nanotechnology Law & Business, suggests that the federal government should cap liability of nanoparticle industries in an attempt to spur development.
Now, Inside OSHA reports that Congress is considering the concepts put forth by Professor Berube. The report has the attention of Senator Mark Pryor (D-AR), chairman of the subcommittee overseeing product safety and the insurance industry. While Senator Pryor’s office has not commented on the report, inside sources confirm that he is reviewing it.
MEH: As John and I discussed, final enactment of such limits may be premature given the infancy of the nano-industry. While a liability cap may help develop nano related businesses, it raises questions concerning how lawmakers are treating workplace safety and the message sent to the public at-large. While Congress should consider all feasible alternatives in developing legislation, especially for nanotechnology, legislation limiting liability should be thoroughly considered before acting.