Einstein Telescope (ET) is a possible third generation ground-based gravitational wave observatory for which a design study is currently being carried out. A brief (and non-exhaustive) overview is given of ETs projected capabilities regarding astrophysics and cosmology through observations of inspiraling and coalescing compact binaries. In particular, ET would give us unprecedented insight into the mass function of neutron stars and black holes, the internal structure of neutron stars, the evolution of coalescence rates over cosmological timescales, and the geometry and dynamics of the Universe as a whole.
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