Now I do not like to be a doomsayer, but I think Wal-Mart, the great success story of Capitalism, will ultimately be the noose that hangs it. I will be the first to say: “Capitalism works” I believe history shows us that there is no other system on economics which creates the freedom, wealth, and “happiness” that capitalism does. Capitalism’s results may not be perfect, but it’s not because the system is flawed, but because humans are flawed and tend towards sins of greed, lust, and the like. Wal-Mart is no doubt a success story for Capitalism, for it effectively used the free market to create one of the world’s largest companies and make its owners more successful than the founders of Microsoft put together, at least according to George Miller’s essay “Wal-Mart Harms Americans”. However, to me these facts are unimportant, what is important is that Wal-Mart is huge, has tons of employees and arguably mistreats said employees.
Now it is no secret that Wal-Mart doesn’t pay its low level employees very much, and that many of them are not allowed to work full time, so that Wal-Mart doesn’t have to pay for their benefits. Now I do not think these employees were duped into working there and have decided to do so under their own freewill, and can leave at any time, so my problem isn’t namely in that. That’s how the system works, people offer jobs and people accept jobs when the terms work for both. My problem with Wal-Mart is with the long term effects will be on the wages they pay and the power they have over manufacturers and wholesalers.
Continue reading →