This literature review synthesizes four studies examining genetically modified (GM) foods from economic, health, and social perspectives. It covers Anderson's (1998) argument that society is moving toward a GM food world, Border and Norton's (1998) analysis of public acceptance and regulation, Murnaghan's (2012) exploration of economic impact and corporate power, and Schneider and Schneider's (2013) focus on the changing ways people eat. The review emphasizes that economic and human health costs must be considered together to fully understand the risks and benefits of GM foods, particularly as global population growth puts increasing pressure on sustainable food production.
Genetically modified (GM) foods are changing how people in developed countries eat, and they raise many important economic questions. According to Anderson (1998), society is moving toward a genetically modified world. The food the world eats β from meat to grains, fruits, and vegetables β will eventually become GM food. This food can be engineered to resist all kinds of pests and predators, which can mean less waste (Anderson, 1998). That saves a great deal of money for farmers and growers, but the health concerns surrounding GM food should not be ignored (Anderson, 1998).
This review will provide significant insight into both the true economic cost of GM food and the considerable human cost that must also be considered. Often, only the economics are addressed, or only the human cost β that is, health and safety β is addressed. While both are important, they must be examined together to understand the full picture of risks and benefits that GM food presents.
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, since they all work in tandem when it comes to whether GM foods will be accepted and used widely or avoided by the majority of consumers. When consumers avoid GM foods, those products will not sell and the growers will not profit (Border & Norton, 1998). This can harm the economics of the entire industry, which depends on people purchasing GM foods in large quantities.
If sufficient consumer demand does not materialize, the industry will not generate enough revenue to remain sustainable. The entire industry could collapse β a devastating outcome, given that a great deal of the food grown in the future will likely be GM food (Border & Norton, 1998). This reality must be carefully considered, because changes to the food supply are necessary for it to remain realistically sustainable well into the future as the global population continues to grow.
"Economic development costs and corporate profit concerns"
"Benefits and risks of GM foods for consumers and farmers"
Taken together, these four studies illustrate that the GM food debate cannot be reduced to a single dimension. Anderson (1998), Border and Norton (1998), Murnaghan (2012a, 2012b), and Schneider and Schneider (2013) each contribute a distinct perspective β whether economic, regulatory, corporate, or dietary β and together they underscore the need for a comprehensive approach that integrates both the economic and human costs of genetically modified foods.
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