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Expectations play a powerful role in driving technological change. Expectations are often encapsulated in narratives of technological promise that emphasize potential benefits and downplay potential negative impacts. Genetically modified (GM, transgenic) crops have been framed by expectations that they would be an intrinsically ‘pro‐poor’ innovation that would contribute powerfully to international agricultural development. However, expectations typically have to be scaled back in the light of experience. Published reviews of the socio‐economic impacts of GM crops among poor, small‐scale farmers in the developing world indicate that these effects have been very mixed and contingent on the agronomic, socio‐economic and institutional settings where the technology has been applied. These conclusions should modulate expectations about the pro‐poor potential of GM crop technology and focus attention on …