Economical Impact of GMO Products

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Genetic engineering is a recently developed technology that allows the alteration of the genetic make up of living organisms. This technology allows scientists not only to exchange genes from members of the same species, which is what farmers and nature has been doing throughout history, but also the exchange of genes between completely separate species. For example genetic engendering allows scientists to insert the genes from a fish into a tomato, something that can never happen in nature. Many in the biotechnology industry claim that the recent advancements in this field of research will help solve many of the problems developing countries face. These claims have led to a massive increase in commercial growing of genetically modified organisms, GMOs from 1.7 million hectares in 1996 to 58.1 million hectares in 2002 worldwide. 99% of this growth has only been in four countries, Argentina, Canada, China and the USA, the USA being the largest, producing 68%. However, the idea that GMOs are economically beneficial is one that can be contested.

Amidst this enthusiasm there has been growing concern that there exist many hidden costs involved with GE technology. Critics of GE technology claim there are known and unknown health, social, ethical and environmental risks involved with the introduction of this technology. There are also claims that this technology has little if any benefits to the developing world and will in fact only benefit the developed world, and multinational biotech corporations such as Monsanto. Critics argue that whatever benefits developing nations gain from GE technology, these are far outweighed by the risks involved.

Proponents’ of genetically modified foods strongest claim is that this technology will be...

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...r crops. Therefore, even though it is inevitable that some of Monsanto’s seed is going to travel and end up on another farm, that farm that it lands on could be sued for everything it has.

Although many people will argue and disagree, GMO crops have many negative economical effects. We are risking our health on a subject in which the science is unsettled, and we may not even be producing more food. Along with that, purchasing the GMO seeds in most cases is too expensive for developing nations to benefit. Even in developing nations, GMO products adversely affect many farmers because of the way the major companies and corporations treat them. GMO technology is something that should be researched and developed, but until we know more about their real social, environmental, and economical impacts, we should by no means implement the technology in our society.

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