(omitted word restored) "loss in wages reduces the final demand for consumer commodities as is obviously borne out by the closing of Wal-Mart stores all around the world this week."
Probably not a good example of the so-called second contradiction. Over the long run, Wal-Mart has prospered from the decline of real earnings, selling workers shoddy goods made cheaper by pressuring suppliers to reduce wholesale prices. These store closures are partly a cyclical slowdown and partly an instance of the change from retail stores to online shopping with package delivery. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
