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Profile: Foundation on Economic Trends (FOET)
Foundation on Economic Trends (FOET) was a participant or observer in the following events:
The Foundation on Economic Trends (FOET) files a class-action lawsuit against Monsanto on behalf of a group of Iowa, Indiana, and French farmers. The suit alleges that Monsanto failed to ensure that its genetically modified seeds were safe for consumers and the environment before it brought them to market. It also claims that the company, which has bought out numerous seed companies in recent years (see 1996-1998), seeks to control world production of agriculture and food through the spread of its patented genes. “Through various anti-competitive practices, it seeks to control world production of agriculture and food, with particular concentration on power over seeds,” says Jeremy Rifkin, the foundation’s president. “What this means is that if the companies get their way, no farmer in the world will ever own a seed again. If that doesn’t hold implications for anti-trust law in the world of agriculture, then I don’t know what does.”
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