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Consumers seem to be taking the mad cow news in stride. To date, no sales declines are reported from the fast food chains, and some of the premium steak-houses have even increased demand. Perhaps yellow journalism no longer has much effect.
Although news stories about mad cow disease often describe the horrors of the affliction for several paragraphs, David Ropeik of the Harvard Center for Risk Analysis points out that the risk of actually contracting the human variant from meat is virtually nonexistent. Extensive and careful scientific studies in Britain and elsewhere have never, ever, found any evidence that eating beef can cause the disease in humans.
If the health threats from mad cow have been oversold, the economic damage has not. Over 30 countries have banned imports of beef from the U.S., and beef prices have dropped 20 percent. Taiwan has banned U.S. beef for seven years. Taiwanese beef producers can celebrate, as will Australians, who will provide the beef that Americans cannot. Many ...