Literature Review Chapter: Genetically Modified Foods - Economics

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[. . .] They are designed to be an option as the original food supplies on the planet run low and more people are born (Murnaghan, 2012a). There are many people who reject genetically modified foods, though, and will likely continue to do so well into the future, which cuts into corporate profit and power (Murnaghan, 2012b). As genetically modified foods are further developed, it will be easier to determine whether they will be safe for people to eat in the long-term, or whether they may be putting large numbers of people at risk because of the way they are engineered (Murnaghan, 2012b). Until such determinations can be made, genetically modified foods will continue to be embraced by some and shunned by others. Both arguments and how they affect corporate power and economics should be considered.

For Schneider and Schneider (2013), the focus was on the food itself, and how it was changing the way people eat. Those who embrace genetically modified foods and/or do not see any risk to them realize only the benefits. They focus on how people are being helped because there is more food to eat, and how farmers are being helped because they have drought and disease resistant crops to grow (Schneider & Schneider, 2013). Both of those are benefits, but there are risks and economic considerations that also have to be addressed. Studies such as these are vital in order to show that there is much more to the GM argument than just how much money it can make for growers or what it will cost for those purchasing the products.

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 [END OF PREVIEW]

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Genetically Modified Foods - Economics.  (2013, September 16).  Retrieved May 22, 2019, from https://www.essaytown.com/subjects/paper/genetically-modified-foods-economics/5379994

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"Genetically Modified Foods - Economics."  Essaytown.com.  September 16, 2013.  Accessed May 22, 2019.
https://www.essaytown.com/subjects/paper/genetically-modified-foods-economics/5379994.