An Interesting Thought Experiment
Ever since I read The Wal-Mart Effect, by Charles Fishman, I've had a half-thought nagging at the back of my mind. I think today is the birthday of that thought; I think I can finally put it into words. The problem I have with Wal-Mart - and every other national chain store I've read about, including Walgreen's, Best Buy, Target, Home Depot, and others - is that it abstracts the economy away from you and me. What do I mean by this? That's the hard part, the part I've been trying to articulate to myself for a couple years now. Think of an economic exchange between some supplier and some consumer on a face-to-face basis. It may help to think about a waiter at a local restaurant, for example. If the waiter is lazy, and the service is horrible, then from an economics standpoint, you should give him a lower tip than if he performed stellarly, or even up to expectations. This is basic vote-with-your-dolla...
Posted on August 28, 2008 1:18:32 PM EDT
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