McGroarty sends in a short article by John Semmens of Capitalism Magazine. The skinny: the basic principles of economics vindicate Wal-Mart:
Wal-Mart�s "lowest price" policy is stimulating its suppliers and competitors to be more efficient, which requires higher productivity.Higher productivity, in turn, is the key to prosperity. By encouraging international trade between the U.S. and less_developed countries, Wal-Mart is helping put these countries on the path to higher standards of living as well.
Wal-Mart is doing all these good things with a profit margin of less than 4 percent. To call Wal-Mart a "corporate criminal," as an article in the January 3 issue of The Nation does, is libel. Wal-Mart is a model of success that should be emulated, not reviled.
Posted by Kevin on April, 4 2005 at 10:19 AM
