BRAD DELONG HAS AN INTERESTING POST OFFERING a framework for analyzing the economic impact of nanotechnology. Zack Lynch has some thoughts in reply.

UPDATE: In a related vein, here’s evidence that investment in nanotechnology at the moment isn’t really driven by fundamentals:

SAN FRANCISCO (Reuters) – A growing fascination with nanotechnology seems to be doing wonders for the stock price of Nanometrics Inc.

Too bad the company’s only connection with the hot field of molecular-scale machinery is the first four letters of its name and a stock ticker, NANO. But that, apparently, is enough to confuse some investors. . . .

Gerald Fleming, an analyst with Oppenheimer who covers Nanometrics stock, said he received eight to 10 calls on Wednesday from brokers who thought the company had something to do with nanotechnology.

“The company’s been around for 25 years, well before nanotechnology was even though of, and it’s strictly a coincidence,” Fleming said.

Enthusiasm is nice. But it should be informed enthusiasm.