The Economic Impacts Of Gmo 's And Large Agribusiness

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Sam Palmisano Mrs. Kristine Frailing AP Capstone Seminar 24 January 2015 The Economic Impacts of GMO’s and Large Agribusiness When focusing on a major topic like genetically modified organisms from an economic standpoint, it is crucial to cover the varying effects of large agribusiness companies that run the biotechnological field, primarily Monsanto. Monsanto, originally founded as a chemical company, has risen to hold a biotechnical science monopoly. While a monopoly is never a good thing, the issues with Monsanto are much larger than that. How exactly do Monsanto and its fellow biotechnology companies cause damage to everything they interfere with? From the death, destruction, and deformation of Vietnam to financial damage to local farmers, from the dangerous chemicals placed in their crops to the false advertising of their company, Monsanto and its cohorts may be the root of all problems and negative aspects related to genetically modified organisms. Monsanto and many other large agribusiness companies claim to be solving world hunger. This is a false advertisement. Only about 20% of global food production comes from large factory farms, while the other 80% comes from from small, local farms (Scott Cooney, The Inspired Economist). Many important crops are not even fully dedicated to feeding anyone, they go to making other products. For example only 2% of GMO soy is actually eaten by people and only 10% of GMO corn goes towards foods, with half of that being in high
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