GM Food: Another Case for the Economics of Uncertainty

Here you can find my updated standpoint toward genetically engineered crops.

The discussion about the use of genetically modified organisms in agriculture is one of the most heated environmental debates of the present. While some claim that Europe’s opposition to GM crops is “arrogant hypocrisy” and dooms Africa to hunger, others answer that the so-called green biotechnology only promotes superweeds, food insecurity and pesticides. It is indeed a very complicated subject where the treatment of uncertain hazards plays a significant role – similar to the nuclear power or climate change debates. I already once wrote a piece about the socio-economic aspects of GMO, but it was, admittedly, rather superficial. After having discussed uncertainty aspects more broadly and in the field of climate change in more recent entries, today I am going to try to give a broader, more balanced look on GMO with the focus on decision-making under uncertainty. Continue reading