ON LOW-WAGE CAPITALISM, PART 2…

Good morning. I'm away on my annual Wildacres Writer's Retreat atop Pompeii's Point in North Carolina. I've been reading Fred Goldstein's Low-Wage Capitalism and thought his "Why the bosses need Walmart" is instructive. Enjoy Part 2:
But Walmart not only drives down the wages of its own workers. By using its leverage as the world's largest retailer, it pressures its suppliers to lower costs. This can only be done by increasing the exploitation of the suppliers' own workers or by offshoring to low-wage countries. Walmart spreads its monopoly power by destroying the competition with its famous lowest prices. But it achieves these low prices by impoverishing its own workers and the workers of its suppliers and by forcing its suppliers to super-exploit low-wage labor across the globe. Walmart and its apologists claim that these low prices are saving people hundreds of billions of dollars a year. But the truth is that Walmart's low prices serve the entire capitalist class in the United States. They drive down the cost of the means of subsistence and thus make it easier for all the bosses to lower wages.
Previously... Yes, I realize that Goldstein as leader and member of the secretariat of the Workers World Party has a point of view anathema to the majority of people in the United States, but he consistently raises points that I think important and worthy of deep discussion concerning our present economic hierarchy in general and Walmart in particular. I sincerely hope that when I return from my retreat I'll find the beginning of discussion that brings a thoughtful, large and varied voice to The Writing On The Wal. Jeff Hess: Have Coffee Will Write.

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