Monsanto is known as the world’s largest seed company. It was founded in 1901 by John F. Queeny and was named after his wife, Olga Monsanto Queeny. In the late 1960’s Monsanto created its first Roundup herbicide; this advanced the company even more in its success. However, in the 1970’s Monsanto ran into some legal trouble with a chemical they produced called, Agent Orange. This chemical, which contained dioxin, was used in the Vietnam War to destroy the Vietnamese jungles. Dioxin was found to be very toxic and a lawsuit was brought against them in 1979 on behalf of hundreds of veterans that were poisoned by the chemical; Monsanto and other manufacturers ended up settling for a pay-off of $180 million.
Efficacy of Monsanto’s Ethical Culture: …show more content…
The GM seeds are said to have saved farmers “…billions by preventing loss and increasing crop yields” (Ferrell, 2015, p. 384). An example given in the textbook was that in 1970 the average corn harvest yielded about 70 bushels an acre, but thanks to the biotech crops the average corn harvest is at 150 bushels per acre (Ferrell, 2015, p. 384). Monsanto is hoping that by the year 2030 that the average corn harvest will reach 300 bushels per acre. CEO, Grant, says that the increase in productivity will produce more crops without taking up more land, which will help to meet the world’s growing agricultural requirements (Ferrell, 2015, p. 384). Because of the increase in crops, farmers revenues have peaked; the cotton harvest for Indian farmers rose a significantly to 50 percent and doubled their income within the year. Monsanto also claims that the corn harvest in the Philippines has risen by 24 percent due to the insect-resistant seeds. However, critics contend that these percentages are inflated and that the costs of regular seeds are drastically cheaper than GM seeds and that the cost difference is taking away from the farmers’
Efficacy of Monsanto’s Ethical Culture: …show more content…
The GM seeds are said to have saved farmers “…billions by preventing loss and increasing crop yields” (Ferrell, 2015, p. 384). An example given in the textbook was that in 1970 the average corn harvest yielded about 70 bushels an acre, but thanks to the biotech crops the average corn harvest is at 150 bushels per acre (Ferrell, 2015, p. 384). Monsanto is hoping that by the year 2030 that the average corn harvest will reach 300 bushels per acre. CEO, Grant, says that the increase in productivity will produce more crops without taking up more land, which will help to meet the world’s growing agricultural requirements (Ferrell, 2015, p. 384). Because of the increase in crops, farmers revenues have peaked; the cotton harvest for Indian farmers rose a significantly to 50 percent and doubled their income within the year. Monsanto also claims that the corn harvest in the Philippines has risen by 24 percent due to the insect-resistant seeds. However, critics contend that these percentages are inflated and that the costs of regular seeds are drastically cheaper than GM seeds and that the cost difference is taking away from the farmers’