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Discount retail giant Wal-Mart
Discount retail giant Wal-Mart is poised to bring is supermarkets to Southern California, sparking labor strikes and lockouts as unionized workers fear competition from non-unionized Wal-Mart stores. Columnist Steven Pearlstein was online to talk Wal-Mart as a symbol of the hyper-globalization of the economy. A transcript follows. Read his column on this topic: "Wal-Mart's Hidden Costs."
Wal-Mart shows that it's money that makes the world go around, and people are an expense to be minimized.
They buy products made by the world's lowest paid manufacturers, sold by America's least expensive employees, using a delivery system implicitly subsidized by the American taxpayer through the highway and water-port systems. All to deliver (on average) low-quality, high-replacement goods at the lowest possible price.
Aren't Waltons five of the twenty richest people in America, or something like that? Huxley couldn't see far enough into the future when he names "Ford."
October 30, 2003 09:54 PM