OVERALL ECONOMIC IMPACT
Because of GMOs, there has been a steady increase in agricultural production. This increase in food supply helps to support the growing population within each country. A supported population that continues to effectively grow results in having more people to work and boost the economy. More crops grown means cheaper resources available to the average family shopping at the grocery store. This allows families to support themselves without having food expenses be a financial burden. GM crops can also be modified to have a longer shelf life, thus decreasing the amount of gross waste created which contributes to the saving of money both within families and grocery stores.
Farmers’ incomes are not significantly influenced by droughts when they have GM crops. By genetically modifying crops to withstand drought and temperature extremities, crop yields remain and high and consistent. Their incomes remain steady and the risk of falling into an economic slump is reduced. Farmers also experience the growth of more crops using less land due to a decreasing reliance on the cultivation of marginal land.
