Three aspects of the [Los Angeles County Economic Development Corp.'s] study [concerning the economic impact of the planned advent of Wal-Mart Stores into Southern California, "The Wal-Mart Effect Now Awaiting Southern California," editorial, SN, Feb. 9, 2004, Page 8] trouble me: Wal-Mart paid for the study; Wal-Mart had the final say on the [report's executive summary]; and several economists doubt the conclusions of the report.
R> This is amazing considering that economists never seem to agree on anything.
That Wal-Mart puts small operators out of business has been demonstrated in small towns throughout the U.S. Further, Wal-Mart's low wages and systematically unaffordable health care benefits package force its employees to seek state-sponsored medical coverage. In this manner, Wal-Mart shifts its health care expense to taxpayers while it lures them into the stores with low prices [supported] at their own expense.
One thing is clear: The beast is approaching Los Angeles much like Godzilla approached Tokyo.
To whom will Angelino retail clerks and consumers turn to repel the threat of the beast? For sure, they cannot turn to politicians who will certainly fall for the report's false promise of economic prosperity.