Everyone loves the low prices offered at Walmart, it means more money saved for all of us. Unfortunately there’s a cost to be paid for these cheap goods and it might be worse than having to pay a few extra dollars. Our economy is taking the punches so all the rich and mighty of Walmart can hord our hard earned cash. Wit poor wages/benefits, tax avoidance, and huge China sourcing, Walmart is only making its employees and everyone around it poorer along with all the small businesses around it.
Despite the billions of dollars Walmart brings in annually and the government rebate payout, they still repeatedly underpay their employees. And because of these low wages Wal-Mart employees have either very little or no disposable income to use and …show more content…
Well for starters It is very clear that this partnership is far more in favor to Walmart then anyone else. We can see this when we look at what happened to Rubbermaid from 1994 to 2004. Walmart and Rubbermaid created a partnership and for a while Rubbermaid was doing very well because of it, until Resin prices rose. Rubbermaid had called for a price increase on their products, because producing would now be slightly more expensive. Unfortunately for them Walmart has a very strict low price policy and would not budge to create a price increase and instead dropped their product. This was a devastating blow to Rubbermaid who eventually had to sell to Newell, They lost thousands of jobs. Walmart is not helping the economy, it is destroying it along with all the small businesses. Walmart makes their case very clear, either comply to their rules or suffer the consequences. Thi is getting rid of competition and that's exactly what the economy runs on. Without competition the market loses the creativity and rigour of a healthy economy. Competition is also very good for customers and can help businesses gain better insight on what customers want.
In conclusion Walmart is not good for the economy. It takes advantage of its workers, throws away competition and doesn’t give back to the community like it legally should. So while there is the convenience of Walmart’s low prices and their innovative ideas with the bar code, we cannot ignore the negative impact that this company has had on the economy, and by that I mean the billions it has stolen and will more than likely continue to steal from our hard earned taxpayer money in the form of underpaid workers and closing
Despite the billions of dollars Walmart brings in annually and the government rebate payout, they still repeatedly underpay their employees. And because of these low wages Wal-Mart employees have either very little or no disposable income to use and …show more content…
Well for starters It is very clear that this partnership is far more in favor to Walmart then anyone else. We can see this when we look at what happened to Rubbermaid from 1994 to 2004. Walmart and Rubbermaid created a partnership and for a while Rubbermaid was doing very well because of it, until Resin prices rose. Rubbermaid had called for a price increase on their products, because producing would now be slightly more expensive. Unfortunately for them Walmart has a very strict low price policy and would not budge to create a price increase and instead dropped their product. This was a devastating blow to Rubbermaid who eventually had to sell to Newell, They lost thousands of jobs. Walmart is not helping the economy, it is destroying it along with all the small businesses. Walmart makes their case very clear, either comply to their rules or suffer the consequences. Thi is getting rid of competition and that's exactly what the economy runs on. Without competition the market loses the creativity and rigour of a healthy economy. Competition is also very good for customers and can help businesses gain better insight on what customers want.
In conclusion Walmart is not good for the economy. It takes advantage of its workers, throws away competition and doesn’t give back to the community like it legally should. So while there is the convenience of Walmart’s low prices and their innovative ideas with the bar code, we cannot ignore the negative impact that this company has had on the economy, and by that I mean the billions it has stolen and will more than likely continue to steal from our hard earned taxpayer money in the form of underpaid workers and closing