Walmart history essay - Fun On The Set - New Sensations
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To make maters worse, we are then taken to (American History) Professor Nelson Lichtenstein of UC Santa Barbara, who talks about the Austrian (a.k.a. free market) idea of "creative destruction" in a very abbreviated way. The impression left to a viewer who has never heard the phrase before is that "creative destruction" is only "creative" in the manner in which it destroys. The idea that economic "destruction" of outmoded means of production and distribution also creates new opportunities and a rich economy for everyone is not made clear (though it may have been in the part of Professor Lichtenstein's answer left on the cutting room floor for all I know).
Walmart History and Strategy Overview Free Essay, …
To seal the deal on this fearful vision of economic freedom, we are shown some small town middle Americans who have lost their jobs to the Chinese (specifically in the TV manufacturing industry). This situation is further inflamed by allegation that the Chinese have been "dumping" goods on the U.S. market -- selling them below cost, thus shooting themselves in the foot to give us better prices -- and Wal-Mart supported the Chinese in the insuring legal battle. All of this, it is alleged, has lead to unemployment among young people who once worked in small town factories. Mr. Smith asks in a very concerned voice, "What are those kids going to do?" How about, go to college? Start a business? Move to another area? You may think such answers "heartless" but the cradle to grave "security" mentality is the truly heartless position because it does not work. The Chinese learned this, to a degree, and that is why they abandoned some of their State planning for private planning. To think that we will be more successful by abandoning freedom for protectionism (the first step in State planning) is farcical. What are we going to do, force plants not to close and guarantee everyone a job? When in human history has that worked?