I thoroughly enjoyed this article. It was full of cited information and even the sources led to interesting reads.
this post was submitted on 26 Dec 2024
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The Walton Family are terrorists
For the morons out there: No, this does not mean high prices are good. It just means low prices can sometimes be bad if certain principles aren't in play. You're welcome.
- lower prices until other small businesses close down
- increase the price back
- everyone needs to buy from you because you are the only supplier
- profit
It's even more insidious:
- Lower prices to drive out all competition
- Become largest local employer
- Keep wages low, people don't have many other jobs to choose
- Everyone has to buy from you, and those working for you are stuck in their low-wage jobs
- Excessive profits
This just in, studies rediscover basic functions of an economy. Again.
A few more studies bro, just a few more. We are sure to figure this stuff out if we just do another study.
Someone should look into this capitalism thing and see if its creating any problems, surprised noone has thought about it till now
Another quality-of-life lowering thing caused by Walmart/Amazon that's obvious but they didn't go into, is that once Walmart and Amazon have eliminated so many local businesses, everyone is forced to shop at them. Even if we don't want to, we have nowhere else to go--we can't just boycott them and still get stuff we need.
Walmart decides what you will and won't have access to buy. They've pared down the variety of brands and offer a subset of items by those brands minimum, for their efficiency of ordering and stocking items, including groceries. Then the brands stop making the items that Walmart decided not to stock, so they're gone. There are still a few other grocery stores but most have them have merged into a few mega-grocery chains with the same issues as with Walmart.
So even if you're OK with going to Walmart your choices are limited (those of us old enough to remember things we used to be able to buy that are long gone these days may notice this more). So what it's come down to is you get what Walmart offers you, or you order it from Amazon or Temu. There are still a few places to get real things of good quality, but they're harder to find, never local stores, so you have to order online sight unseen, and of course it's an expensive and time-consuming process compared to being able to just go to the store and grab something.
Their stores extract local spending dollars and transfer them to shareholders who live in gated communities.
If they paid more in wages than a store made in profits they would close the store.
Yes to the first part, but the second part is just how businesses work? If your gross income is lower than your expenses you're operating at a loss and it's not sustainable. Wages should absolutely be higher, though. Quick back-of-the-napkin math shows that last year Walmart made a net profit of over 11 billion dollars and employed just over 2 million people. They could boost every single employee's pay by $5000 annually and still make a billion dollars in profit.
They could boost every single employee’s pay by $5000 annually and still make a billion dollars in profit.
Except for the corporate employees / managers, which get stock options that are much higher than $5,000 annually ofc
Yes it is exactly how corporations work. That is the root cause of the problem.
It should be no suprise that the corporations are sucking the country dry.
The need is for an economic implementation that does not lead to death by parasite to most of the land.
Walmart encourages their employees to apply for federal and state programs like food stamps because they don't give their employees enough hours and give them weird shifts making it hard to even have another job.
And then they want them to use them at Walmart.
It's disgusting.
Walmart is one of the largest welfare queens in the country. They profit off of poverty, and are actively incentivized to not only keep communities poor, but to make them poor.
You get a 10% employee discount!*
*Limited items, only available for employees who work 40+ hours/week (which is almost nobody). All grocery items are ineligible.
When I worked there a long time ago we couldn't even use the discount on food.
This was proven decades ago.
I wonder what an ideal structure is that does the opposite. I know the obvious "small business" etc, but like as policy what structure would make a populace more wealthy?
Mixed zoning would probably help.
Stop vertical integration (ban the fuck out of it) and give anti monopoly laws teeth. The reason Walmart at the like can do this is by making themselves the only real choice for the poor (and then making everyone poorer).
Edit: also to add things like walmart hold suppliers over a barrel so if you ban the vertical bullshit you also give the companies supplying walmart more ability to ask for more.
Hard to start a business when your competitor is Walmart.
Hard to make a living when the main employer is Walmart.
Hard to move when you don't have any money.
Hard to start a business when your competitor is Walmart.
It's also hard to maintain an existing business when your competitor is WalMart.
They can afford to undercut you until you go out of business, then they can charge whatever the market will bear.
Which is a lot on inelastic goods like food.
Edit- to use the correct term
Walmart is bad for small town America. And the rest of America too.
I was buying camping equipment from walmart. They were out of some of my supplies and a new tent I wanted. I ordered alternative items from a online store and they were so much higher quality than the ones at walmart. Walmart squeezes its suppliers so much you end up with items that are more cheaply made. I've tested this on several different items and have discovered that walmart sources many of their brands straight from china. You can buy the same cheap shit from temu.
Theres literally documentaries from 2010 about manufacturers who make a "Walmart version" because Walmart demands these factories make them at a specific price.
Like in one documentary, the same toaster from Target and Walmart, the Walmart one had different cheaper parts inside. TVs, furniture, lamps. Even the plastic storage containers like totes and Tupperware had "Walmart" versions that were real flimsy.
Snapper Mowers actually pulled from Walmart in 2006 because they wanted to focus high quality products rather then moving quantity.
Selling Snapper lawn mowers at Wal-Mart wasn’t just incompatible with Snapper’s future – Wier thought it was hazardous to Snapper’s health. Snapper is known in the outdoor-equipment business not for huge volume but for quality, reliability, durability. A well-maintained Snapper lawn mower will last decades; many customers buy the mowers as adults because their fathers used them when they were kids. But Snapper lawn mowers are not cheap, any more than a Viking range is cheap. The value isn’t in the price, it’s in the performance and the longevity.
Later in 2013, Briggs & Stratton decided to start selling Snapper in Walmarts again. 2014, Briggs & Stratton closed a Snapper plant. They then had to restructure and other corporate BS, so fuck around and find out. Publicly traded company garbage.
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They also do this with Black Friday electronics now too.
That’s not new either. Been going on for ages.
Isn't this obvious?
If an outside Corp comes in displacing local business, the profits that would cycle back into that community now get taken out. It doesn't matter what the prices are, when the community as a whole has less money with each transaction.
Thank you for pointing this out. When you shop small locally-owned businesses, the money is often directly reinjected into local economies. The money you spend at locally businesses puts a girl through ballet lessons instead of putting dollars towards a new yacht. And the ballet company is owned by your neighbor.
If people really want to fight income inequality, stop giving your money to billionaires everywhere you can.
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It should be illegal to pay people wages that require them to take public assistance
If your employees have to use public assistance then you should be on the hook for the assistance and the administrative cost of that assistance.
And when that hits 10 percent or more of your workforce then the government forces a union.
We've let the corporations fuck around long enough.
Don't worry, they will fix the issue by eliminating piblic assistance
Wastes vasts amounts of urban land on parking instead of housing or more businesses
Is often so deep in parking lots and strip malls its impossible to walk to
Cheap prices and cheap chinese manufacturing to help eliminate local competition
Massive corporation has more bulk buying power than local competition
Designed to be a one stop shop, fix your car, buy a tv and grab some food
Self checkouts pays robots instead of people in the community the store is in
The people who do work there are paid shit wages for life, often not even keeping up with inflation meaning they actually get paid less every year
Probably paying less taxes than they should be for the amount of space the business takes up and the amount of traffic generated
Helps promote car centric design which is a terribly ineffecient and expensive way to move people within an urban area.
All profits are exported out of the community, instead of staying/swirling about the community.
More than half of Walmart's employees are on food stamps or some other form of government assistance. So along with everything else, our tax money goes to pay their employees because they won't.
I call that a tax break, paying shit wages, AND ruining the local area by making everybody more poor all rolled into one because Walmart employees often shop at Walmart for their employee discount (because they can't afford to shop elsewhere on their poor wages), meaning that their wages go right back into the company's coffers right alongside our tax dollars.
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Low prices AND low value. The cheap ass shit they sell is intended to break and be replaced as quickly as possible. E.g. cheap clothes that wear out quickly. Those who can't afford better are thus trapped in a cycle of repeat buying.
The boot problem as written by Terry Pratchett. You can buy crappy boots every year for 25 dollars or boots for life for 100 dollars.
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Okay for Walmart. Now, is it the same or worse with Amazon ?
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