Wal-Mart: Providing for the Common Welfare
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According to left-of-center but pro-market Sebastian Mallaby:
According to a paper for the National Bureau of Economic Research by Jerry Hausman and Ephraim Leibtag, neither of whom received funding from Wal-Mart, big-box stores led by Wal-Mart reduce families’ food bills by one-fourth. Because Wal-Mart’s price-cutting also has a big impact on the non-food stuff it peddles, it saves U.S. consumers upward of $200 billion a year, making it a larger booster of family welfare than the federal government’s $33 billion food-stamp program.
How can centrist Democrats respond to that? By beating up Wal-Mart and forcing it to focus on public relations rather than opening new stores, Democrats are harming the poor Americans they claim to speak for.
Clintonian “third way” politics is gone. And that’s the main thing that will stop Democrats from being in the majority in 2007.
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