[lbo-talk] Walmart and Costco

Doug Henwood dhenwood at panix.com
Thu May 5 07:54:58 PDT 2005


Michael Pollak wrote:


>After all, high productivity and high wages used to go together in
>this country. So it's not an incoherent model in itself.

At a particular odd historical moment, when corporate America was willing to give a little to avoid losing a lot (the ultimate threat being the USSR), and when the likes of GM had no meaningful competition. All that changed when the world did, and givebacks became the order of the day. By the time Kerorian's finished with GM, line workers may be earning near-WMT wages.

Doug



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