Wednesday, July 17, 2013

I'll second that motion

Mark Perry dismantles a recent Washington Post (of course!) article in which the author, Princeton University professor Rebekah Massengill, lists, and then criticizes, five "myths" about Walmart.  After presenting Massengill's discussion on myth 3, for example, Perry proceeds to steamroll her arguments with, essentially, some relatively straightforward, basic economic thinking.  But he doesn't stop there. No, after this excellent paragraph:
Any neutral observer who looks at the significant economic benefits generated by Wal-Mart in terms of everyday low retail prices for groceries, prescription drugs, clothing, and household items that generate billions of dollars in cost savings for low-income Americans, along with millions of job opportunities in cities across America for low-income Americans with above-market compensation and significant advancement opportunities, could only come to one conclusion: Wal-Mart is truly great for low-income Americans.
...he officially nominates Walmart for the 2013 Nobel Peace Prize! And I, for one, will second that motion.