mikesd81 writes, "There's an article at the Associated Press about how the government must balance close oversight of the fast-growing field of nanotechnology against the risk of stifling new development. Contrasting view came from a panel of experts brought together to discuss how nanotechnology should be regulated. The article states that submicroscopic particles are being incorporated in the thousands of products overseen by the FDA, including drugs, foods, cosmetics and medical devices and the products consist of roughly 20% of each dollar spent by U.S. consumers. Matthew Jaffe of the U.S. Council of International Business says, "The key is to use science to weigh both the benefits and the risks of nanotechnology. That's a balance the FDA already seeks to strike in assessing other products." From the article: "'The success of nanotechnology will rely in large part on how FDA plays its regulatory role,' said Michael Taylor of the University of Maryland's School of Public Health. The FDA doesn't believe nanotechnology is inherently unsafe, but does acknowledge that materials at the nano scale can pose different safety issues than do things that are far larger. 'The FDA wants to learn of new and emerging science issues related to nanotechnology, especially in regard to safety,' said Randall Lutter, the agency's associate commissioner."