(Why we can’t shop our way to a Better Economy)
From STACY MITCHELL
Institute for Local Self-Reliance
Walmart’s planned takeover of urban markets threatens to cut off other viable economic development options.
Almost 30 years ago, as the U.S. was bleeding jobs, Walmart launched a “Buy America” program and started hanging “Made in America” signs in its 750 stores. It was a marketing success, cementing the retailer’s popularity in the country’s struggling, blue-collar heartland. A few years later, NBC’s Dateline revealed the program to be a sham. Sure, Walmart was willing to buy U.S.-made goods — so long as they were as cheap as imports, which, of course, they weren’t. Dateline found that Walmart’s sourcing was in fact rapidly shifting to Asia.