Hi Lawson
In spirit of free debate …
> there is no such thing as local labor rates anymore.
Is there no such thing as a 'minimum wage' in America? We have one in Australia.
> American and Australian workers are in direct competition with these underpaid Chinese workers.
True, but that has nothing to do with Wal-mart. It has to do with global communications and global transport. Well, you can't put that one back in the box. And there was a time when America thought that raising the standard of living of all those third-world countries would be a Good Thing: it would reduce the risk of unrest and increase the market for American goods.
> Its called CORPORATISM not capitalism.
I am not sure I can see the difference. It seems to me that it is just human nature to want to expand, grow, compete. And don't forget: these companies do not exist as separate things: they actually reflect the wishes of their shareholders. And ultimately, the 'shareholders' are the American people. Yep: it is Joe Public who ultimately drives the actions of all these companies.
So it is Joe Public's GREED which is driving all these companies. And it was Joe Public's actions in spending more than he was earning which ultimately drove the GFC too. OK, the politicians allowed the banks to reduce their capital requirements and the Fannie Mays to give mortgages to people who could never repay them – but that was pandering to the Joe Public voters as well.
> Wal-Mart's "low prices" come at a huge cost to the bottom quarter of American society. Essentially every
> time they spend a dollar at Wal-Mart they are that much closer to having their jobs outsourced.
I cannot see that the two things are linked that way. The low prices of Wal-mart benefit far more people than it costs: Wal-mart serves far more customers than the number of employees it has.
As to the outsourcing thing: that has nothing to do with Wal-mart per se: as I pointed out above it is a consequence of global communications and global transport. Most American companies are outsourcing to meet the dividend returns demanded by their shareholders – Joe Public again.
My 2c.
Cheers




