Blog link: https://connect.ubc.ca/webapps/portal/frameset.jsp?tab_tab_group_id=_2_1&url=%2Fwebapps%2Fblackboard%2Fexecute%2Flauncher%3Ftype%3DCourse%26id%3D_45359_1%26url%3D

Picture link: http://www.redorbit.com/media/uploads/2013/09/3dprinter.jpg

According to Yihan’s blog, the development of 3-D printer providess young entrepreneurs and businesses the opportunity to compete with the market leaders. In my point of view, this new innovation brings both pros and cons.

In my opinion, 3-D printer technology and market has a great growing potential where in the future, small businesses and individuals would be able to afford. Thus, with 3-D printers, small businesses would be able to develop and produce products within a lower cost, preventing them from early stage cash liquidity problem, and therefore, gain a higher opportunity to survive and compete with the market leaders. When this happens, markets will be more competitive and thereby, more creative innovations would be developed under the pressure, leading world’s technology to the next level faster.

However, 3-D printers are great substitutes for factory workers, where firms may lay off employees and replace the old assembling line to save costs. Therefore, there will be less job opportunities provided, and many people will lose their jobs causing an increase in unemployment rate. This would be a serious social problem that has the potential of causing chaos in the society.

Overall, 3-D printer is a great innovation that brings benefits to the society. But in the main time it also has the potential to harm the existing market system. Thereby, in my own opinion, both advantages and disadvantages it would create should both be under consideration.