Product details

In the United States, genetically modified corn and soybeans are now widely grown and consumed; but in Europe, they have been dubbed "Frankenstein foods," shunned by packaged food manufacturers, and subjected to a host of governmental restrictions. This case provides information on the economics and politics of agricultural biotechnology. It emphasizes the divergent attitudes in the United States and Europe about how the technology ought to be regulated, and highlights the resultant strategic dilemmas for companies in the business, including DuPont, Monsanto, and Novartis. Readers can analyze the technology and its regulators both from a normative public policy standpoint (i.e., asking what sorts of regulatory institutions would enhance social well- being) and from the point of view of positive political economy (i.e., asking how the regulatory system is likely to evolve given the current institutional setup and the interests of the various public and private players). Raises questions of how firms can develop strategy under conditions of extreme regulatory risk.; Evaluates the tension between liberal trade rules on one hand, and product safety and environmental quality on the other; and examines implications for company strategy.