Yes, the socioeconomic consequences of genetically modified crops are positive, because it allows farmers to make more, and better crops, for lower prices. Farmers can produce more crops in smaller spaces. The more they can produce, the lower prices will be for those foods. This helps a lot of people who do not have the luxury of purchasing organic.
GMOs have led to strands of some produce that can be grown in areas it previously could not survive in, the benefits of that have been undeniable. It provides work, food, and a resource that can be cared for so that it keeps producing more. Not everything about GMOs is good, sometimes they can have some ugly results and they are certainly not devoid of blame, but the good outweighs the bad.
The point of genetically modified crops is to produce higher yields. Higher yields mean more food for consumers and more money for farmers. Genetically modified corn that is designed to withstand bugs and drought can be used for ethanol rather than food if consumers don't want to buy such crops if it is used in foods. The positive impacts of GM crops are incalculable.
I believe that the socio-economic impacts of genetically modified foods and crops are positive. GM food offers so much promise. GM crops can produce more food and that would be such a big help in a world with so much poverty, especially in Third World countries. Bigger yields of crops also means that farmers can use their land better and use less pesticides.
Due to a very creative and intense attack campaign by GMO haters, the idea of GMO food has attained almost the level of a cussword. I think that GMOs can be beneficial to people, both financially and biologically, as many GMO foods are better versions of t he natural organic version.
The fact of the matter is this planet has exceeded the number of human beings that it can support. That population number surpassed 9 billion people in 2011. Without new technologies in bio-molecular enhancement, creating larger produce numbers per plant, there will be a lot of starving
people in the new millennia. As far as social implications, without food, there is no society to have problems.
The socio-economic impacts of GM crops help many poor and middle-income people. Genetically modified crops allow farmers to grow a large number of crops at a reduced cost. In addition, the crops that are grown are better. They are larger, healthier, and maybe even last longer without spoiling. Even before modern times, farmers would use the best of their crops and animals for reproduction. Genetically modified crops are no different, and help a lot of people.
GM crops have 100% seed replacement rate. This creates dependency on seed companies. Also there will be mafia of other input materials like fertilizers, Pesticides, Etc. Which farmers are forced to purchase from companies without which they will not be able to grow GM crops. Thus those companies exploit farmers.