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View Diary: The Low-Wage Wal-Mart Business Model has Broken Our Economy (17 comments)

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  •  that $300 billion in lower costs... (0+ / 0-)

    That $300 billion in lower costs was extracted by their suppliers, who in turn extract it from their own workers and suppliers.... ad infinitum.

    The secret to prosperity is in fact a high-wage/high-cost economy with some (but not too much) inflation, similar to what the USA had from 1945 till 1980.  The austerity measures being  proposed by today's Very Serious People are in fact the polar opposite of the economic strategies used to build the American economy during the 1945-1980 era.  We had an activist federal government, unions were strong, we had protectionist trade policies, we had high marginal income tax rates at the top of the scale, etc., etc.

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