ECON545 Business Economics
Keller Graduate School of Management
Class: ECON545 Business Economics
Subject: Course Project – Part 1
Term: Summer 2013
Ethical Issues in Business
Monsanto is a multinational agricultural biotechnology corporation. Monsanto has been under fire for years from consumer groups including- green peace, mothers against monsanto, March against monsanto, and a number of other groups. The primary issue with Monsanto is that they claim there genetically Modified Organism (GMO) crops will feed the growing world, because they will outperform organic crops. Over time there is great evidence that their claims are only empty promises.
In recent news Monsanto has retreated from the European Union lobbying and marketing efforts to approve cultivation of its seeds. They were also recently, found guilty of poisoning a French farmer. Their GMO seeds have been linked to cancer and Parkinson’s disease.
Farmers claim that the use of Monsanto’s herbicide resistant crops causes them to use more pesticides on their fields which increase the public’s health risk, plus the cost of bringing their crops to market. The biggest tort is the terminator seed that monsanto produces. The seeds, mostly corn, canola, and soy can be used for one year then terminates (become sterile) forcing the farmers to buy more seeds the next year.
Inside these seeds is what's known as BT toxins. It has been proven thru scientific study by the Department of Genetics and Morphology and Institute of Biological Sciences these toxins destroy red blood cells, disrupt blood clotting, and cause organ degeneration and tissue damage.
From a supply and demand standpoint: Hungary has burned all of their GMO corn fields for the year and lost their whole harvest, Japans just recently rejected a ship of GMO wheat. The supply for monsanto seeds thru out the world is coming to a halt. As the demand decreases we will see changes in demand shift the demand curve downward along the supply curve and the equilibrium price
Class: ECON545 Business Economics
Subject: Course Project – Part 1
Term: Summer 2013
Ethical Issues in Business
Monsanto is a multinational agricultural biotechnology corporation. Monsanto has been under fire for years from consumer groups including- green peace, mothers against monsanto, March against monsanto, and a number of other groups. The primary issue with Monsanto is that they claim there genetically Modified Organism (GMO) crops will feed the growing world, because they will outperform organic crops. Over time there is great evidence that their claims are only empty promises.
In recent news Monsanto has retreated from the European Union lobbying and marketing efforts to approve cultivation of its seeds. They were also recently, found guilty of poisoning a French farmer. Their GMO seeds have been linked to cancer and Parkinson’s disease.
Farmers claim that the use of Monsanto’s herbicide resistant crops causes them to use more pesticides on their fields which increase the public’s health risk, plus the cost of bringing their crops to market. The biggest tort is the terminator seed that monsanto produces. The seeds, mostly corn, canola, and soy can be used for one year then terminates (become sterile) forcing the farmers to buy more seeds the next year.
Inside these seeds is what's known as BT toxins. It has been proven thru scientific study by the Department of Genetics and Morphology and Institute of Biological Sciences these toxins destroy red blood cells, disrupt blood clotting, and cause organ degeneration and tissue damage.
From a supply and demand standpoint: Hungary has burned all of their GMO corn fields for the year and lost their whole harvest, Japans just recently rejected a ship of GMO wheat. The supply for monsanto seeds thru out the world is coming to a halt. As the demand decreases we will see changes in demand shift the demand curve downward along the supply curve and the equilibrium price