Here in Cleveland a lot of bloggers, including myself, cut their group social activism teeth on a cause we lost: keeping a Wal Mart super center out of Steelyard Commons. But we’re still passionate about Wally World as the responses to this local post indicate.
â€œWal-Mart, the worldâ€™s largest retailer, plans to slash the prices of almost 300 generic prescription drugs,â€ according to numerous news reports. Link. The plan is expected to lower drug costs for many consumers.
Notice that there were no new laws, no government regulations, and no government spending involved. No government officials ordered the action or were involved in the decision. No price controls were invoked. Wal-Mart did this because it made good business sense. Thatâ€™s what a market-based solution looks like.