Tuesday, November 4, 2014

Why and how should we confront capitalism? (2/2)

Part one of this article is at P1 
Fortunately we are at a point where we have not lost all to global capitalism yet. Our leaders are rapidly pushing us in that direction in the name of progress but like in almost all fields, thanks to corruption, the progress is slow. So we have a God sent opportunity to take stock of our situation and think of ways to fight this global menace.

Monday, November 3, 2014

Why and how should we confront capitalism? (1/2)

Wal-Mart is the world’s largest retailer with more than 4,300 stores in the United States and over 8,000 worldwide, with global sales topping $400 billion in 2009. Walton family owns Wal-Mart, and they own more wealth than the bottom 40 percent of Americans. Many research studies have thoroughly documented the negative impacts of  Wal-Mart  on local economies. These studies have shown that in cities and towns where Wal-Mart opened its stores the local stores went out of business and unemployment rose.  After a single Wal-Mart opened in Chicago in September 2006, 82 of the 306 small  businesses in the surrounding neighborhood had gone out of business by March  2008. The common customer thinks that he/she is getting a better price but that is not necessarily true and definitely not in the long run. Why, you would ask.