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Protests against agricultural biotechnology have increased in recent years. While the battleground may be new, the warring sides are familiar opponents - with industry in one corner and environmentalists in the other - and they seem to find few points of agreement. To hear environmental activists tell it, the so-called "frankenfoods" threaten not only the health of humans, but also the planet's fragile ecosystems. To hear industry tell it, biotechnology is proven safe; it promises to reduce chemical use and provide cheaper, healthier, and more flavorful products to consumers; and it will also serve to vanquish global hunger. Put in much simpler terms, the recurring debate may be characterized like this: the industry keeps claiming that the bath water is clean, while activists continue to insist on throwing out the baby with the bath water. The purpose of this paper is to sort out and evaluate the competing claims.