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submitted 6 days ago by alyaza@beehaw.org to c/humanities@beehaw.org

Two new research papers challenge that view. Using creative new methods, they find that the costs Walmart imposes in the form of not only lower earnings but also higher unemployment in the wider community outweigh the savings it provides for shoppers. On net, they conclude, Walmart makes the places it operates in poorer than they would be if it had never shown up at all. Sometimes consumer prices are an incomplete, even misleading, signal of economic well-being.

Their conclusion: In the 10 years after a Walmart Supercenter opened in a given community, the average household in that community experienced a 6 percent decline in yearly income—equivalent to about $5,000 a year in 2024 dollars—compared with households that didn’t have a Walmart open near them. Low-income, young, and less-educated workers suffered the largest losses.

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[-] Chuymatt@beehaw.org 2 points 6 days ago
[-] millie@beehaw.org 2 points 6 days ago* (last edited 6 days ago)

I mean, from Walmart's perspective yeah absolutely that's what it is. But consumers aren't profiting from their home towns being utterly decimated financially. Legislators at a local level aren't really either. I suppose legislators at a state and national level might be kind of but they still end up with a shittier world.

The overarching motivation isn't so much about profiteering as being suckers and subscribing to the idea that corporate America has our best interests in mind. If workers and local municipalities were focused on maximizing their own value, rather than being good little cooperative serfs and sellouts, we wouldn't have this issue.

Convenience and intellectual laziness got us here.

I think a lot of what we're feeling now is just the result of misplaced leftover cold war era anti-communist anxiety ironically resulting in the withering of a less centrally orchestrated American economy in favor of consolidation. It's just that said consolidation ended up handing everything to oligarchs instead of to some collective representation of workers. In either case, you get the same issue of the people who decide on policy being fully detached from both the needs of the people they ostensibly serve as well as the actual effectiveness of the measures they enact.

this post was submitted on 30 Dec 2024
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Humanities & Cultures

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