How much do we need to know?

June 21, 2006 | Source: KurzweilAI

We should limit access to information and technologies that could put unprecedented power into the hands of malign individuals, says Bill Joy in the June 17 New Scientist magazine (subscription required).

“Rather than regulate things, we could price catastrophe into the cost of doing business,” he advises. “Right now, if you want approval for things, you go through a regulatory system. If we used insurance and actuaries to manage risk, we might have a more rational process. Things judged to be dangerous would be expensive, and the most expensive would be withdrawn.”

He is also translating that message into action: earlier this year, his venture-capital firm announced a $200 million initiative to fund projects in biodefence and preparation for pandemics.