All Hail, Wal-Mart!

I was reading over at the blog Austrian Economists and I noticed a post on Wal-Mart for the Nobel Peace Prize. This is coming from Canada, of all places. I completely agree here is why…

"CONSIDER THAT WAL-MART:

– Provides employment to 1.9 million people; the best defence against poverty is a job.

– Creates thousands of job opportunities for people in developing countries like China and India; this keeps hunger at bay in many households.

– Doles out hundreds of millions of dollars each year in dividends that help fund the retirement of millions of people; the company had sales in excess of $348 billion and a net profit of $11.3 billion in 2007.

– Sells food, clothing and other necessities to Canadians, Americans and others at prices that are 15 to 25 per cent below what other supermarkets charge; this helps millions of low-income families stretch their dollars.

– Pushes the inflation rate down and helps keep interest rates low; this comes in handy for millions of families when borrowing to buy a house or household appliances.

– Disburses $415 million in cash and in-kind merchandise annually to 100,000 charitable organizations around the world.

– Pursues environmental sustainability; sells more organic produce than most retailers; works with the Clinton Foundation to lower prices on sustainable technologies such as energy-efficient lighting and building materials; has opened the first in a series of high-efficiency stores that will use 20 per cent less energy than a typical Wal-Mart. And its proposed Vancouver store is more environmentally friendly than any building in the Lower Mainland."

AND

"Improving business productivity is the sure-fire way of increasing living standards. Ask any economist of repute.

While Wal-Mart’s primary intent is not to do all the aforementioned social good, what it has done and is doing is raising the living standards of millions of families around the world."

My favorite part!…

"There is not much evidence that Wal-Mart puts mom-and-pop operations out of business. In fact, studies demonstrate that if shopowners adapt to the ever-changing retail market, they can thrive after Wal-Mart comes to their town."

The left has their awards for achievement… we need the Capitalist Golden Globe awards. Too bad its the people that do not get rewards everyday that deserve them.

Like Adam Smith said:

"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest."

Wal-Mart for Nobel Peace Prize!

What do you think?

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Published in: on February 12, 2008 at 5:18 am  Comments (2)  

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2 CommentsLeave a comment

  1. Wal- Mart Rocks.Liberals would rather people pay lots of money for goods and not allow people of this country to have jobs. AMEN TO THIS POST

  2. great post!


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