How do genetically modified foods effect our society and economy?

Question

How do genetically modified foods effect our society and economy?

Answer 1

Hawaii almost lost their sugar crop due to a bug infestation.  Genetics developed a crop that contained a poison that killed the bug and was harmless to humans.  Hence, Hawaii's sugar crop and economy was saved, and you can have sugar with your coffee at the price you pay now, instead of drinking it bitter.

Answer 2

Well there is no solid proof that says they have any effect on our health. However, there is concern over genetic diversity of crops. A field of GMO corn tends to have corn that all have the same genetic composition. Consequently, if a disease came along that killed plants with that particular genetic composition, entire fields would die as opposed to if the corn were more genetically diverse. GMOs also strike fear in consumers. Consumers don't like to have their food "tampered" with. Also changing the genetic composition of an organism producing food brings up the question of whether that corn is still corn.

It is notable that humans have been genetically engineering since the beginning of civilization through the domestication of plants and animals for consumption. Farmers have always selected the hardiest plants and animals to mate and produce a better product.