The shape of things to come

Wal-Mart, a Nation Unto Itself
By STEVEN GREENHOUSE

SANTA BARBARA, Calif., April 13 — We already know that Wal-Mart is the biggest retailer. (If it were an independent nation, it would be China's eighth-largest trading partner.) We also know that it is maniacal about low prices. (Some economists say it has single-handedly cut inflation by 1 percent in recent years, saving consumers billions of dollars annually.) We know that its labor practices have come under attack. (It charges its workers so much for health insurance that about one-third of them do not have it.)

But the more than 250 sociologists, anthropologists, historians and other scholars who gathered at the University of California here on Monday for a conference on Wal-Mart came looking for more than the company's vital statistics. Like archaeologists who pick over artifacts to understand an ancient society, the scholars here were examining Wal-Mart for insights into the very nature of American capitalist culture. As Susan Strasser, a history professor at the University of Delaware, said, "Wal-Mart has come to represent something that's even bigger than it is."

Indeed, with $256 billion in annual sales and 20 million shoppers visiting its stores each day, Wal-Mart has greater reach and influence than any retailer in history. "In each historical epoch a prototypical enterprise seems to embody a new and innovative set of economic structures and social relationships," said Nelson Lichtenstein, a history professor at the University of California here and the organizer of the conference. "These template businesses are emulated because they have put in place, indeed perfected for their era, the most efficient and profitable relationship between the technology of production, the organization of work and the new shape of the market."

Posted by Prometheus 6 on April 17, 2004 - 12:19pm :: Economics