Many American's love shopping at Walmart considering it offers one thing everyone loves whether you're on a budget or not and that is its low low prices everyday. But how has Walmart actually impacted America's economy? Many individuals will claim that Walmart has impacted the economy in a positive way considering it offers low prices that it has given back to the community. Other individuals will claim that Walmart is a great for America considering it has employed many people. But is Walmart actually such a good thing? Or is it slowly becoming a monopoly? Many individuals will never stop and ask themselves these questions yet will stop by their local Walmart just to buy a cheap good that is set at a higher price in other stores. Walmart's
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According to David Theroux in the article "Is Walmart Good or Bad for America? A Debate" even though Walmart cost many American's their jobs it also creates 300 to 350 jobs when a new one opens up in the community. Theroux claims that during 1990s and 2000s Walmart has created a lower unemployment rate instead of a higher one. Which would make you think that Walmart is actually a good thing at least for the community but is it really? In the article "Wal-Mart to Create 22,000 Jobs — and Destroy Many Thousands More" Stacy Mitchell states that according to Dr. David Neumark, an economist at the University of California at Irvine, for each new retail job created by Wal-Mart, 1.4 existing jobs have been lost at competing businesses. That means every new Wal-Mart store that opens reduces retail employment by about 150 jobs. And in the article "Top reasons the Walton Family and Walmart are NOT 'Job Creators'" the author agrees with Mitchell when they state that Wal-Mart store openings destroy almost three local jobs for every two they create by reducing retail employment by an average of 2.7 percent in every county they enter. Also according to Stacy Mitchell for every $100 that is spent at Walmart only $14 stay in the local community. Not only is that making Walmart more of a bad thing for the economy and the community but according to the author of Top Reasons the Walton Family and Walmart are NOT “Job Creators" just one Walmart store …show more content…
Has it gotten as far as becoming a Monopoly? Depending on how individuals view Walmart it can be considered both a Monopoly and an Oligopoly. In the article "Wal-Mart and its Monopolistic Market Structure" the author states that Walmart is considered an oligopoly because there are a few other firms who compete with Walmart. Such as Kmart and Target which are both very similar shops to Walmart and carry much similar merchandise. Walmart also competes with such stores like Staples and Radio Shack for electronics and it does not end there it also competes with many internet retailers like Amazon in many different areas. Considering many different firms compete against Wal-Mart it is considered an Oligopoly. Yet if Walmart is viewed from a small business point of view it is considered a monopoly. According to the author of the article "Wal-Mart and its Monopolistic Market Structure" Walmart has put small firms out of business, it has forced manufacturers to be more efficient, often leading to suppliers sending jobs overseas. The author also states that whenever a Walmart opens in a new area three other retailers close in two years and four close up shop within five years. The area's where Walmart opens its doors about 250 individuals lose their jobs. With the way Walmart is taking over America only time will tell if it is a true monopoly meaning it will put all other firms and retailers out of business or if it is an
According to David Theroux in the article "Is Walmart Good or Bad for America? A Debate" even though Walmart cost many American's their jobs it also creates 300 to 350 jobs when a new one opens up in the community. Theroux claims that during 1990s and 2000s Walmart has created a lower unemployment rate instead of a higher one. Which would make you think that Walmart is actually a good thing at least for the community but is it really? In the article "Wal-Mart to Create 22,000 Jobs — and Destroy Many Thousands More" Stacy Mitchell states that according to Dr. David Neumark, an economist at the University of California at Irvine, for each new retail job created by Wal-Mart, 1.4 existing jobs have been lost at competing businesses. That means every new Wal-Mart store that opens reduces retail employment by about 150 jobs. And in the article "Top reasons the Walton Family and Walmart are NOT 'Job Creators'" the author agrees with Mitchell when they state that Wal-Mart store openings destroy almost three local jobs for every two they create by reducing retail employment by an average of 2.7 percent in every county they enter. Also according to Stacy Mitchell for every $100 that is spent at Walmart only $14 stay in the local community. Not only is that making Walmart more of a bad thing for the economy and the community but according to the author of Top Reasons the Walton Family and Walmart are NOT “Job Creators" just one Walmart store …show more content…
Has it gotten as far as becoming a Monopoly? Depending on how individuals view Walmart it can be considered both a Monopoly and an Oligopoly. In the article "Wal-Mart and its Monopolistic Market Structure" the author states that Walmart is considered an oligopoly because there are a few other firms who compete with Walmart. Such as Kmart and Target which are both very similar shops to Walmart and carry much similar merchandise. Walmart also competes with such stores like Staples and Radio Shack for electronics and it does not end there it also competes with many internet retailers like Amazon in many different areas. Considering many different firms compete against Wal-Mart it is considered an Oligopoly. Yet if Walmart is viewed from a small business point of view it is considered a monopoly. According to the author of the article "Wal-Mart and its Monopolistic Market Structure" Walmart has put small firms out of business, it has forced manufacturers to be more efficient, often leading to suppliers sending jobs overseas. The author also states that whenever a Walmart opens in a new area three other retailers close in two years and four close up shop within five years. The area's where Walmart opens its doors about 250 individuals lose their jobs. With the way Walmart is taking over America only time will tell if it is a true monopoly meaning it will put all other firms and retailers out of business or if it is an