Businesses also suffer when massive layoffs occur. When spending by households decreases, incomes decrease for the businesses. Governments are not immune from the effects of massive layoffs of employees either. When households spend less, and businesses are selling less, there is less sales tax to be collected by the government. Also, when employees are laid off there is less income tax to be collected and to make things even worse, former employees can collect unemployment benefits from the government.
In my opinion it is a sick cycle, which enviably will reduce the standard of living in the United States. The individuals seeking to pay less for their purchases don’t realize the effect it has on the surrounding economy, including reduced wages, reduced community support, reduced business opportunity, reduced land values, reduced tax base, and ultimately lower standard and quality of living for most members of the community. I personally think that Wal-Mart is a modern day monopoly. It kills the competition. This is harmful for our economy.
Bridget Hutchings - 228303 EST1 - Task 310.2.1-05 The attitude of Company Q towards social responsibility seems to be decreased by the pressure of profit loss. They closed 2 stores recently due to the fact that they were continually losing money. This not only creates a problem for the employee's that worked there, but also for the customers who frequented the stores. By improving their ethical makeup they could not only improve their profits, but it would also help the relationship with their employees and customers grow. There are a few things that Company Q could work on and change to create a better enviroment for the community.
("Store Wars," n.d., Big store, business practices section, para. 1).The low prices may be great for the economy, but that's about all walmart is doing for America. For people who work at Walmart, in order to make ends meet, they usually have to work at two different jobs. Their significant other usually has to work, too. Not enough money and too much stress lowers the quality of life that people have, and their standards of living also drop, as they are forced to get by with cheap, low-quality items (Nickels, McHugh & McHugh, 2010).
The housing market also plummeted leading to negative equity, which the majority of the working class could not afford resulting in the repossession of their houses combined with the drastic increase in unemployment Britain was in a mess. However Major did have some success, he abolished poll tax, which was very popular among the public, he increased spending on the NHS and introduced transport subsides to keep travel fares low.
Ethically I found it hard to believe that this happening in the United States and that our economies have become so terrible that the Circuit City’s in Canada are not closing and their profits are up. The retail industry in general is slowly wasting away and our future and
In this essay, I will evaluate the success of these programmes in their attempt to regenerate areas badly affected by urban decline. Urban decline is brought about by a number of factors including political decisions, outmigration, decline in quality of housing stock, lack of urban planning, loss of industry and an increasing concentration of low income groups. Political decisions can sometimes mean that areas are ignored for investment and therefore eventually go into decline. As areas become less desirable the skilled and wealthier population move out into more desirable areas, housing becomes of a lower quality as little money is pumped in for redevelopment. This means that the majority of people living in the area are those who cannot afford to move away.
My reasoning for this was its taking away business from local grocery stores, taking away work, and so on. And this can be true, Wal-mart can run other stores out of business due to the low prices. But when I think about it that store could be run out of business by any other store if they get into a price war, people most of the time will choose the cheaper place to shop at. So then when you look at it at the price aspect, Wal-mart can be seen as a good thing for America. Wal-mart claims to have low prices always, and in the economy that's what Americans need, we need cheap affordable products.
It was also an abundant source of raw materials and the Suez Canal could be a beneficial way to transport them. The Imperialism ended up having a positive effect on Africa because the population grew, new ways of transportation and communication were introduced, and Africans became educated therefore they had more opportunities ahead of them. To begin, the African population grew as Imperialism was taking place in their country. The Europeans were far more advanced and knew how to keep a healthy diet, which they showed the African citizens. (www.slideshare.net, Web.)
Because of their consistently low prices on products, their competitors have lowered their prices in order to compete with Wal-Mart. In turn, this has driven overall prices down. Wal-Mart has also created many new jobs and increased tax revenues. Businesses that are located next to Wal-Mart stores have also benefited from them because customers who are shopping at Wal-Mart will stop at other businesses before or after shopping at Wal-Mart ("Walmartstores.com: Economic Opportunity"). Because of the impact Wal-Mart has had not only on the retail industry in the United States, but also globally, I think it is safe to say that Wal-Mart is a very secure company.