Quote (Thor123422 @ Mar 30 2021 03:13pm)
Walmart goes away, and all those mom and pop stores that paid more per hour are still around, and you're basically in the same place with purchasing power but with the profits from Wal-Mart being in the hands of thousands of moms and pops.
We do not need mega-corporations to raise our buying power or to bring costs down, and there's a lot of evidence that the exact opposite happens.
Giant corporations are generally more efficient, and the result of that efficiency is concentrated wealth which eventually causes other problems, including giving those same people outsized power to then abuse the lower classes by passing laws favorable to those already with money.
Walmart has the ability to supply those goods at those prices, the smaller shops don't. By definition that means less purchasing power.
Larger firms offer more competitive salaries, generally, and outcompete for top talent. Smaller shops are not overpaying for their help. The dishwasher is getting minimum wage and the owner is pocketing the difference.
There are some problems that come along with mega-corps, but the alternative is not an idyllic 1950s style fantasy. Life in simple economic terms is much better, but the jobs available and the structure of employment and markets has changed quite a bit.
All that being said, smaller shops are making a comeback in many places, but they tend to be upscale and focused on out-competing on quality, not price. That's good. Taking away cheap food from the poor is bad. Most poor people don't work at Walmart, but they can shop there. Higher prices inherently reduces their quality of life.