Summary
Two studies reveal that Walmart’s entry into communities lowers household incomes by 6% over 10 years and increases poverty by 8%, even when accounting for cost savings.
Its practices, such as undercutting competitors, suppressing wages, and squeezing suppliers, harm local economies by reducing employment and forcing smaller businesses to close.
Walmart’s “monopsony power” enables it to pay lower wages and dominate suppliers, compounding these effects.
The findings challenge the idea that low prices alone benefit communities, emphasizing long-term economic harm.
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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
Oh yeah, we should do a study…
Wait a minute, I am on to you grant boi…