Wal-Mart as a Negative Force in the American Economy
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The paper discusses how Wal-Mart outsources American jobs to cheaper markets overseas and also undersells local competition in American consumer markets. The paper argues that these strategies are collectively enriching the company by sapping the American economy of both production and labor and negatively impacting the global economy.
Globalization of Production
Globalization of Production
From the Paper:"This is an argument which forms the basis for the critical examination of the firm by Frontline, which is a feature of the Public Broadcasting Station (PBS). Here, a prying investigation into Wal-Mart's practices and behavior indicates that as much as any force, Wal-Mart is responsible for the degraded quality of the American economy in the face of globalization. Its exploitation of an evolving system of trade has opened it to opportunities for expansive growth and simultaneous disruption of the patterns of American consumer practice. As reported in the introduction to the PBS investigation, "'Wal-Mart's power and influence are awesome,' [PBS correspondent Hedrick] Smith says. 'By figuring out how to exploit two powerful forces that converged in the 1990s -- the rise of information technology and the explosion of the global economy -- Wal-Mart has dramatically changed the balance of power in the world of business. Retailers are now more powerful than manufacturers, and they are forcing the decision to move production offshore.'" (Frontline, 1)
"Here, the discussion proceeds with the argument that Wal-Mart has not simply adopted the types of practices that are forcing American jobs overseas while also devaluing these jobs at the expense of foreign laborers, but additionally, its zealous price-cutting has forced countless competitors to engage the same destructive economic practices simply to remain in business. This renders Wal-Mart not just a negative corporate citizen but more problematically, a largely negative force on a fully permeating economic and social scale."
Sample of Sources Used:
- AdBrands. (2008). Wal-Mart Stores (U.S.). AdBrands.net.
- Associated Press (AP). (2007). Wal-Mart chooses new advertising agency. MSNBC. Online at http://www.msnbc.msn.com/id/16601355/
- Clark, J. & Irwin, E.G. (2006). The local costs and benefits of Wal-Mart. The Ohio State University.
- Collins, J.C. (2007). Supply Chain. Accounting Software Research. Online at http://www.asaresearch.com/ecommerce/supplychain.htm.
- Fitzgerald, M. (2002). Wal-Mart's Deadly Impact On Advertising. Editor & Publisher. Online at http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1501039
Cite this Persuasive Essay:
Wal-Mart as a Negative Force in the American Economy (2011, December 28) Retrieved November 25, 2020, from https://www.academon.com/persuasive-essay/wal-mart-as-a-negative-force-in-the-american-economy-149665/
"Wal-Mart as a Negative Force in the American Economy" 28 December 2011. Web. 25 November. 2020. <https://www.academon.com/persuasive-essay/wal-mart-as-a-negative-force-in-the-american-economy-149665/>