Wal-Mart Effects the Economy Essay - 2733 Words

Jim Lee Eng 101: Reames December 2, 2010 Wal-Mart Greatly Impacts the U.S. Economy Is Wal-Mart ruining the local businesses in America? Most professional business men can agree that Wal-Mart affects the United States economy in many different ways. Wal-Mart is an American public corporation that runs a chain of large, discount department stores. It is the worlds largest public corporation by revenue according to the 2008 Fortune Global 500. However this corporation has contraverisal issues about how they do their sales and the long term affects they put in the economy. Professionals will agree that Wal-Mart has hurt many community businesses as Wal-Mart open in areas around them. There have been common statistics for when a Wal-Mart†¦show more content†¦This will get this phenomenon brought up to the government level and will be talked about to high levels of authority. Goetz and Swaminathan are professionals that agree with my idea of local businesses being destroyed by Wal-Mart. Common views of professionals will agree that our economy is partly affected by the Wal-Mart effect. Neumark, Zhang, and Ciccarella (2005) will agree with Stone, Goetz, and Swaminathan by saying that â€Å"We estimate the effects of Wal-Mart stores on county-level employment and earnings, accounting for endogeneity of the location and timing of Wal-Mart openings that most likely biases the evidence against finding adverse effects of Wal-Mart stores† (Pg. 1). This is another common aspect of all these professionals with the idea that there is a negative effect behind the openings of Wal-Mart. All of the effects found are common as they reduce local businesses around new Wal-Marts. Neumark, Zhang, and Ciccarella (2005) quotes â€Å" Yet two of the most commonly-heard criticisms are that Wal-Mart eliminates more jobs than it creates for a community and that Wal-Mart’s wage levels pull down standards for all workers—not simply creating low-wage jobs, but driving do wn wages† (Pg. 1). Not only is the Wal-Mart effect destroying the local businesses, Wal-Mart does not help create more jobs for the jobs it loses in the community. Also Wal-Mart does not pay its workers a good wage. That can greatly affect a community becauseShow MoreRelatedWal Mart s Impact On America s Economy Essay1411 Words   |  6 Pagesopened his first Wal-Mart in Rogers, Arkansas. Over 50 years later, Wal-Mart became known as the largest private employer in the United States and the largest retailer in the world. Wal-Mart have expanded to over 4400 stores across the globe. Americans truly love Wal-Mart. When there is not any groceries at house the first thought comes to mind is Wal-Mart. 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