Reference no: EM133352939
Many companies have taken the position that their products have no GMOs. In the United States, foods that contain ingredients derived from corn, soy, canola, and sugar beets have usually been genetically modified. Sixty-four countries around the world have required that GMO foods be labeled. A 2015 survey from ABC News founds that 93% of Americans believe that GMO foods should be labeled.
On the other hand, many scientists and political leaders have argued that the use of GMOs has permitted the United States to grow more food, food that supplies those who are starving throughout the world. Former Governor Mitch Daniels of Indiana maintains that the intentional starvation of people is callous and cruel, but he also believes that denying the world the benefits of increased food production from GMOs carries no moral distinction in resulting starvation.
There are scientific concerns about the effects of GMOs on the environment and on humans when they ingest the food.
If you were on the board of a company that is faced with using GMO or non-GMO suppliers, discuss what position Milton Friedman might take on this issue.
Who are the stakeholders in those situations in which pharmaceutical companies substantially increase the prices of their drugs?
What would Milton Friedman say about the pharmaceutical price increases?