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Wal Mart A Template For 21st Century Capitalism

Wal-Mart: A Template For 21st Century Capitalism?

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Title: Wal-Mart: A Template For 21st Century Capitalism?

Essay Details:

Subject: Business

Author: David R

Date: August 11, 2014

Level:

Grade: B

Length: 4 / 926

Essay text:

“These savings are a lifeline for millions of middle- and lower-income families who live from payday to payday,” argues Wal-Mart CEO H. Lee Scott, “In effect, it gives them a raise every time they shop with us.” But why this specific, management imposed trade off between productivity, wages, and prices? Henry Ford used the enormous efficiencies generated by the deployment of the first automotive assembly line to double wages, slash turnover, and sell his Model T at prices affordable even to a tenant farmer. As historian Meg Jacobs makes clear in Pocketbook Politics: Economic Citizenship in Twentieth-Century America, the quest for both high wages as well as low prices have been at the heart of America’s domestic politics throughout much of the 20th century...

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