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Wal-Mart; Savings at a Cost

Since it was founded by Sam Walton in 1962, Wal-Mart has pushed the edge of low pricing and cost cutting by taking advantage of American free market capitalism to provide consumers with the lowest prices possible. Wal-Mart has been able to sell products to the eager consumer-American while keeping production costs low by moving the production of supplies to Asia, keeping their promise of everyday low prices. Because of its cutting edge business tactics, Wal-Mart has had a profound impact on the world economy as a whole, changing how goods are produced in seemingly irreversible ways. Based in the effects of the loss of U.S. economic stability, loss of job quality and job security in the U.S., and the effect of relentless workers' rights and human rights violations worldwide, Wal-Mart has been the cause of an overall negative effect in the world as the largest corporation. Although Wal-Mart has changed the present world in such negative ways, there are many innovative ways that things can be done to change the ways in which it does business. These changes can happen in a variety of ways and on a variety of levels. On the level of government down to consumer action; the best way would be a comprehensive, multilevel approach.

Wal-Mart has, since its conception, sought out ways to dominate the competition in order to be the best at what it does; sell consumer goods. While dominance should be the aim of any business through capitalistic competition, Wal-Mart has done so well at undercutting other consumer based businesses that it has had a destabilizing effect on the U.S. economy. Since the rise of information technology, and thus, the genesis of the IT aged world economy in the nineties, it has set a new standard for other corporations that are trying to keep up with its prowess. During the last leg of his presidency, Bill Clinton signed the U.S. - China Relations Act of 2000 (Is Wal-Mart Good for America). This measure was a permanent trade agreement with China with the illusion being that the 1.2 billion people in China would be a vast new market that U.S. business and workers would profit from exporting to. The reality of the agreement was that, giving China such lowered export prices gave the Chinese the upper hand. China had so many eager young people flooding the industrial province that would work for dramatically lower rates than those of U.S. citizens; production could easily be moved from the U.S. to China

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