Genetically Modified Foods Economics Literature Review Chapter

PAGES
2
WORDS
800
Cite

Genetically Modified Foods - Economics Genetically Modified Foods

Genetically modified (GM) foods are changing how people in developed countries eat. There are also many economic questions surrounding them. According to Anderson (1998), society is moving toward a genetically modified world. The food the world eats, from meat to grains, fruits, and vegetables, is all going to eventually become GM food. This food can be made to be resistant to all kinds of pests and predators, which can mean less waste (Anderson, 1998). That saves a lot of money for farmers and growers, but the health concerns of GM food should not be ignored (Anderson, 1998). This particular study will provide significant insight when it comes to the true economic cost of GM food as well as the considerable human cost that also has to be considered. Often, only the economics are addressed, or only the human cost (health and safety) is addressed. While these are both important, they have to be combined to understand the true risks and benefits of GM food.

Border and Norton (1998) focused on the risks and benefits of genetically modified foods, along with the public acceptance and regulation of them. These are significant issues to consider,...

...

When consumers avoid them, they will not sell and the growers of them will not make money (Border & Norton, 1998). That can harm the economics of the entire industry, because it counts on people purchasing genetically modified foods in large quantities. If that does not happen, the industry will not have enough money coming in to be sustainable. The entire industry could collapse, which would be devastating because a great deal of the food that will be grown in the future will be GM food (Border & Norton, 1998). This is important to consider and address, because changes have to be made to the food supply in order for it to be realistically sustainable well into the future as the population keeps growing.
Murnaghan (2012a) addressed the true economic impact of genetically modified foods, and also explored the corporate power that genetically modified foods brought out (Murnaghan, 2012b). Both of these issues are vital to explore, and they often have to be addressed together. Because genetically modified foods are not grown naturally…

Sources Used in Documents:

Resources

Anderson, A. (ed). (1998). Living in a genetically modified world. New Scientist (special edition). Retrieved from http://www.researchgate.net/publication/232267451_Genetically_modified_foods

Border, P. & Norton, M. (1998). Genetically modified foods - benefits and risks, regulation and public acceptance. London: Parliamentary Office of Science and Technology. Retrieved from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1115027/

Murnaghan, I. (2012a). Economic impact of genetically modified foods. Genetically Modified Foods. Retrieved from http://www.geneticallymodifiedfoods.co.uk/economic-impact-gm-foods.html

Murnaghan, I. (2012b). genetically modified foods and corporate power. Genetically Modified Foods. Retrieved from http://www.geneticallymodifiedfoods.co.uk/gm-foods-corporate-pow.html
Schneider, K.R. & Schneider, R.G. (2013). Genetically modified food. University of Florida IFAS Extension. Retrieved from http://edis.ifas.ufl.edu/fs084


Cite this Document:

"Genetically Modified Foods Economics" (2013, September 16) Retrieved July 22, 2024, from
https://www.paperdue.com/essay/genetically-modified-foods-economics-96403

"Genetically Modified Foods Economics" 16 September 2013. Web.22 July. 2024. <
https://www.paperdue.com/essay/genetically-modified-foods-economics-96403>

"Genetically Modified Foods Economics", 16 September 2013, Accessed.22 July. 2024,
https://www.paperdue.com/essay/genetically-modified-foods-economics-96403

Related Documents

GMO Speaking Notes Thank you all for your time today. Our team is here to discuss the nature of genetically modified and engineered foods in order to evaluate their role in food service and consumption today. We have several presenters here to discuss the various elements of the presentation, all of whom will walk you through different aspects of the current environment. I will be discussing the economic factors surrounding the

Geneticly-Modified Crop Economics Genetically-Modified Crop Economics Economic Issues: Consider production, consumption, costs, variables of supply-demand, corporations, private enterprise, impact on the nation's economy (employment, displacement, outsourcing). Are certain industries impacted more than others? As it relates to genetically-modified foods and crops, there are several major industries involved. Obviously, the main industry involved would be agriculture. The genetically-modified crops are used for a variety of reasons. First, the modified crops can be used to discourage

Protection and preservation of the environment through increased yields and reduced use of chemical pesticides and herbicides. This is because genetically modified foods grow at a faster rate and in bigger quantities which means less forest land is cleared for agriculture and the natural habitats and biodiversity is preserved. The crops are also made pest and disease resistant which means that less pesticides and herbicides are used which could pollute

Utilitarianism John Stuart Mill believed in the subjugation of individual interests for the sake of society as a whole, but only when necessary. Of course, determining when such subjugation is necessary is not at all simple, and this is the task in which Mill distinguished himself as a philosopher. In his treatise on moral philosophy, "Utilitarianism," Mill proposed the "greatest-happiness principle" a sort of pseudo-mathematical, economic equation to determine the desirability

GMO Food Labeling Genetically modified foods (genetically modified foods) have been an issue of controversy since their early development. genetically modified foods refer to organisms that are intended for human or animal consumption that have been modified artificially to enhance certain plant traits. Some of these traits include pesticide resistance, herbicide tolerance, disease resistance, cold tolerance, drought tolerance, salinity tolerance, improved nutrition, pharmaceuticals, and phytoremediation, which is the use of plants

Genetically Modified Foods With the emphasis lately on stem-cell research and cloning, consumer interest seems to have waned about genetically altered fruits and vegetables. Or has it? The answer to this question is of interest to a wide range of consumer businesses and organizations and R& D. agricultural firms due to the socio-economic impact. According to a peer-reviewed article in the American Journal of Agricultural Economics, "Who do consumers trust