Wal-Mart opens in poor communities? You’re kidding. Who would’ve guessed that a deep discounter specializing in off-brand products and requiring a low-productivity workforce would overlook downtown San Francisco and midtown Manhattan as target markets? Of course, I’m sure the “negative and significant relationship” between Wal-Mart presence and low incomes means that Wal-Mart causes low incomes.
Another newsflash: apparently, Nordstrom’s causes people to be rich. Hat Tip: www.Alwayslowprices.net
Liza Featherstone makes an important point, almost certainly without meaning to, that Mises made in Liberalism: In the Classical Tradition— Big Business is completely and utterly beholden to the wants of “the masses.” If Wal-Mart doesn’t satisfy the wants, needs, and preferences of the “least of these” among us, you can be sure that Target, K-Mart, and Aldi will be more than happy to do so.
