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Walmart has certainly not been a huge boon to the middle class, if they have been, we have not seen any evidence of it. The middle class is shrinking. So if th
by ntsplnkv2 10y ago
Walmart has certainly not been a huge boon to the middle class, if they have been, we have not seen any evidence of it. The middle class is shrinking. So if this is true, that means the middle class is doing MUCH worse than realized.
From what I've read, Despite the cheaper prices, there was a net loss in jobs and significant damage to small business-resulting in higher losses in the local economy than gained from cheaper product. I don't know if there's enough evidence of all of that, but it seems logical.
Also you're ignoring the local economic impact of closing small businesses. It's not just the small retail store employee that loses out. Small businesses close-that means there's less need for accountants, cleaners, advertisers, real estate, etc. Walmart does all of this at the corporate level. This results in even more, well paying job loss, and sets off a spiral that destroys these communities.
> And it's products are as good or better as the competitors.
Sounds like confirmation bias to me. Nothing I ever see or buy from walmart has ever been quality, but I couldn't present that as evidence.