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Since the seminal work of Adam Smith, markets have been considered an efficient tool for co-ordinating the behaviour of economic agents. The basic characteristic of a market economy is that the complex system of interaction among individuals is not centrally coordinated. Under the assumption of...
Persistent link: https://www.econbiz.de/10008533291
As markets become globalized, food safety policy and international trade policy are increasingly intertwined. Globalization also means that food safety incidents are widely reported internationally. One result is that food safety incidents can negatively impact products where no food safety...
Persistent link: https://www.econbiz.de/10004989014
The FSMA appears to be a major undertaking with a very large responsibility placed on the FDA. It would seem that bottlenecks to exporting are bound to appear which will be very frustrating for Canadian firms. It is important for Canadian firms and Canadian policy makers to work hard to ensure...
Persistent link: https://www.econbiz.de/10009351563
The Food Safety Modernization Act (FSMA) which was signed into law in January, 2011 represents a major initiative to improve food safety in the US. The legislation mandates the US Food and Drug Administration with developing a regulatory system to implement the Act. As yet, the full effect of...
Persistent link: https://www.econbiz.de/10009351568
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