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Thread: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by rabbitcaebannog View Post
    The conclusion was a small portion btw.
    A small portion of the overall workforce, concentrated among the lowest-income households. So we hurt the poor in order to help others. Hooray, that sounds like really awesome policy.

    Also, that is not what is happening as far as low skill workers moving up the ladder in many of these places that use the monopsony model like Walmart. Walmart relies on the churn and burn method.
    Walmart is not a monopsony - you need to research the definition of that term. There are plenty of purchasers of low-skill low-education labor. When I was a low-experience, low-skill, low-education worker, for example, I worked for a couple of lawn-mowing companies as a general weed-whipper and lawn-mower-pusher, and also for a restaurant as a busboy.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by poweRob View Post
    No they do not. Your conspiracy theory is incorrect.
    Enjoy some reading material.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by cpwill View Post
    A small portion of the overall workforce, concentrated among the lowest-income households. So we hurt the poor in order to help others. Hooray, that sounds like really awesome policy.



    Walmart is not a monopsony - you need to research the definition of that term. There are plenty of purchasers of low-skill low-education labor. When I was a low-experience, low-skill, low-education worker, for example, I worked for a couple of lawn-mowing companies as a general weed-whipper and lawn-mower-pusher, and also for a restaurant as a busboy.
    We're not hurting the poor to pay highly skilled workers better wages. What hurts them is exploiting them.

    Yes, the term fits their model well. http://ageconsearch.umn.edu/bitstream/6219/2/469304.pdf

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by cpwill View Post
    In which case my point will be proven - and there is nothing that forces Wal-Mart to raise wages for the guy bringing in the carts from the parking lot simply because he has stopped collecting food stamps.



    Don't forget slashing the federal budget by 75%
    I'm not sure about that, but the fact of the matter is that the economy was a lot stronger when wages were higher and the social "safety net" wasn't quite so all encompassing and expensive, in other words, when people who worked were better off than those who didn't, and those who worked their way up were better off yet. Today, it is getting more and more difficult to be middle class.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by rabbitcaebannog View Post
    We're not hurting the poor to pay highly skilled workers better wages
    That is correct - we do not. What we do to hurt the poor is mandate increases in the price floor for their labor, reducing demand and pricing some of them out of the market.

    Yes, the term fits their model well. http://ageconsearch.umn.edu/bitstream/6219/2/469304.pdf
    Your own paper states that even in the areas where they have the highest relative concentration of retail workers, they have hired only one in four or five.

    So no, not a monopsony.

    Monopsony:
    a situation in a market in which there is only one buyer for goods or services offered by several sellers

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by Dittohead not! View Post
    I'm not sure about that, but the fact of the matter is that the economy was a lot stronger when wages were higher and the social "safety net" wasn't quite so all encompassing and expensive, in other words, when people who worked were better off than those who didn't, and those who worked their way up were better off yet. Today, it is getting more and more difficult to be middle class.
    No, today we have a larger number of people who are no longer making the decisions necessary to remain in the middle class. If you want a single dividing line across the US populace between who succeeds economically and who does not, it is the ability to get and stay married. Attempting to maintain two households instead of one is more expensive for any couple, former or otherwise, and the same lack of discipline generally carries over.

    Furthermore, compensation (the cost to employers) has continued to rise, even as the rate of growth in wages has decreased.

    I could just as easily make the argument about the bull run from 1983-1999 and claim that the economy was better when the real minimum wage was falling.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by cpwill View Post
    Back at you.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by cpwill View Post
    That is correct - we do not. What we do to hurt the poor is mandate increases in the price floor for their labor, reducing demand and pricing some of them out of the market.



    Your own paper states that even in the areas where they have the highest relative concentration of retail workers, they have hired only one in four or five.

    So no, not a monopsony.
    Leaving their wages low will not help them as we see inequality getting worse not better.

    Also, Walmart is seen as a monopsony model because of their immense power as a buyer for goods and services offered by sellers in the market place.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by rabbitcaebannog View Post
    Leaving their wages low will not help them as we see inequality getting worse not better.
    Inequality is not a problem. Keeping people from being able to improve their station in life is a problem. Furthermore, since the real minimum wage is zero, you cannot actually reduce income disparity by forcing up the floor, but only by tearing down the top performers.

    Also, Walmart is seen as a monopsony model because of their immense power as a buyer for goods and services offered by sellers in the market place.
    Even your own source, which was trying as hard as it could, could only establish that in some places they are the largest minority, but less than 25% of the market. That is not a monopsony, and it means that Wal-Mart is not the only or even the majority purchaser of low-value labor; and certainly it is not the only purchaser of such labor, which is what is required for a monopsony.

    Within the United States there are very few markets run by monopsonies - and most of the time that purchaser is government.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by cpwill View Post
    No, today we have a larger number of people who are no longer making the decisions necessary to remain in the middle class. If you want a single dividing line across the US populace between who succeeds economically and who does not, it is the ability to get and stay married. Attempting to maintain two households instead of one is more expensive for any couple, former or otherwise, and the same lack of discipline generally carries over.
    That is no doubt a part of the problem, and a huge societal problem as well. Real wages still aren't as high as they were in my youth, however.

    Quote Originally Posted by cpwill View Post
    Furthermore, compensation (the cost to employers) has continued to rise, even as the rate of growth in wages has decreased.
    That's true also, and is due in large part to the cost of medical care and to taxes to pay for those subsidies.

    Quote Originally Posted by cpwill View Post
    I could just as easily make the argument about the bull run from 1983-1999 and claim that the economy was better when the real minimum wage was falling.
    The real minimum may have been falling, but what was happening to the average wages?
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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