Walmart and Why It is Good for American Business
“Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to only so far as it may be necessary for promoting that of the consumer...” Adam Smith. Wal-Mart is a producer who has the sole purpose of promoting consumption of the consumer. Wal-Mart and its quest for capital improvement are playing a major and vital role in the evolution of economic life. Wal-Mart brings positive change to towns in the U.S. They increase competition between retailers, stimulating the economy, and they also bring more capital and tax revenue to at town, some of which desperately need a positive change.
“I think it’s just the natural evolution of growth,” says Cynthia Lin, a spokeswoman for Wal-Mat in California. Wal-Mart’s expansion and growth, like that of many other large retailers such as K-Mart, Buy Mart and Fred Meyer, is part of a bigger picture involving the evolution of the economy and the way businesses conduct themselves. Evolution, defined as the gradual process in which something changes into a different and unusually more complex or better form, is thoroughly distributed in all aspects of life. From biological, social, cultural, to economic, it can’t be denied that there are evolutionary processes taking place constantly. But it would be impossible to take a small piece of time out of our history, study it, and then conclude what is exactly evolving. The evolution processes take place simultaneously and can only be seen from the larger picture. That is why it is necessary to take a collective look at our history, from one point in time until another, to effectively see the process of evolution work.
The industrial revolution began with one or two ideas for a better means of mass-production, and it became the driving force that turned the manufacturing world into what it is today. It was just 1 turning...
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