If you want to know what's wrong with economics education in America, go here. It's a web site created by Wal-Mart to convince viewers that Wal-Mart is good for America because lower prices free up income for people to enjoy other things. How bizarre is it that a company has to spend thousands if not millions of dollars on this web site and elsewhere making the case that low prices are good?
Wednesday, September 19, 2007
What's Wrong With Economics Education in America?
Russ Roberts:
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While I am all for WalMart being able to compete in the marketplace however they want, the fact is that there are always tradeoffs, even with regards to WalMart's low prices.
Shopping at a WalMart is easily one of the most dismal shopping experiences anywhere; you can count on getting very little to none customer service; most of the employees have have this blank stare like a zombie. Let's also face reality: low prices mean low wages for those workers.
So like anything else in economics, Walmart has its advantages, but there are tradeoffs associated with that.
Also, I don't think the point of the website is to convince people that low prices are good, but rather to convince people that WalMart is good. Russ Roberts oversimplifies the purpose of the website.
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