On Feb 22, 2009, at 10:31 PM, Shane Mage wrote:
> But that's all in the non-productive sector, nop?
I'm really not convinced that the productive/nonproductive distinction has any more than a theological basis; selling goods is as important as making them. But that aside, Wal-Mart transformed the productive sector - never has a retailer intervened so extensively to change the practices of suppliers. Competition for Wal-Mart shelf space drove manufacturers to extreme cost-cutting, and WMT's logistical innovations forced suppliers to play along.
Also, by pushing down retail prices, WMT lowered the cost of reproduction of the working class, making real wage cuts throughout the economy a lot easier.
Doug