additional2 - From the Headlines Fresh Food Concepts...

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1 From the Headlines… ü Fresh Food Concepts Recalls Guacamole Products…Possible Health Risk (Feb. 04) ü Edy’s Peanut Butter Cup Ice Cream contains undeclared peanuts…(March 2004) ü Sara Lee pleads guilty in recall (July 2001) ü Listeria outbreak of 1998 ü Bil-Mar Foods, Western Michigan From the Headlines… ü StarLink Contamination of White Corn Chips Prompts Food Recall (July 2001) ü Experts seek ways to protect nation’s food supply from bioterrorism(April 2003) ü Mad Cow Disease Hits U.S. (December 2003) ü Obesity on the rise in U.S. (2003) Let the market take care of it…. ü Hayek argues that markets are extremely efficient ways of organizing economic activity because they effectively synthesize lots of highly dispersed information regarding consumers’ desires and producers costs and express that information in prices. ü Are Hayek’s arguments valid for dealing with food safety issues like Mad Cow Disease? Why or why not? What alternatives do you suggest?
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