Economic Impact of Genetic Engineering

One of the latest buzzword in the parlance of Agricultural science is Genetic Engineering (GE). In GE we can exchange the genes of the organisms from the same or different species to develop a new hybrid species. The idea behind it is to mitigate the limitations in the original genre with new hybrid one. But there are a number of social, economical & ethical issues which needs to be addressed.

The people who got the predilection towards GE states that it will solve the scarcity of food in the under-developed countries as there will be direct increase in the productivity with it. They also claim that the genetically modified seeds got higher nutrient value compare to the traditional seed.

But this is one side of the fact ......There are other factors which need to be taken into consideration before coming to any conclusion. These genetically modified seeds are mostly higher priced compare to the traditional seeds. So the farmers may have to take loan from bank & other sources to purchase them. In that condition in case the productivity doesn't turns out to be as expected they will be in deeper problems. One more thing which is to be worth noting is that, there has been major aversion towards the genetically modified organisms in western Europe & Japan esp. In that condition there will be deluge of the hybrid food which will lower its price as per the demand versus supply.

With Genetic engineering we have the option to choose the right set of attributes for a new born baby. This will make things much more difficult with competition among human race raising altogether to a different plateau.

Now we need to give it a serious thought before investing in Genetic Engineering .....taking into consideration pros & Cons .