Quotation of the Day…

by Don Boudreaux on November 23, 2011

in Complexity & Emergence, Wal-Mart

… is from a letter to the editor in today’s Wall Street Journal by the fine Ball State University economist T. Norman Van Cott:

But the truth is, Wal-Mart and its counterparts spread far more holiday-food cheer than do churches and public-service groups.

Scholars estimate that the presence of Wal-Mart in a community reduces food prices somewhere between 10% and 15%. That’s equivalent to shoppers receiving an additional 5.2 to 7.8 weeks of “free” food shopping. That Wal-Mart’s customer base is skewed toward lower-income shoppers reinforces the beneficent consequences of its price effect.


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