Showing posts with label Walmart. Show all posts
Showing posts with label Walmart. Show all posts

Sunday, December 2, 2012

Is Walmart Evil for Paying Low Wages and Trading with China? Maybe so...

Is Walmart evil for paying low wages or because they offer chinese products.

1. Low Wages:

Who earns low wages?  Usually it’s low skilled less productive people.  Typically they're young with few skills and little experience or older people who have become less productive due to the limits placed on them by their age.  People who earn higher wages are typically more productive with more experience.  This is why plumbers, electricians, engineers and doctors never have to worry about earning a minimum wage.  Their goods and services are valued higher in the monetary sense because the demand for their goods and services relative to the supply of their goods and services is higher.  This is determined by consumers.  Employers don’t determine the value consumers place on a good or service.  If employers were the only ones that determined the value of an employee then employers could just value their workers at a million dollars and pay them a hundred thousand dollars per hour.   

It might be better explained by talking about what the consequences of raising the wages of wal mart workers.