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The American Enterprise Institute
newsletter for December 2006 includes a review of the book The Wal-Mart
Revolution by Richard Vedder and Wendell Cox, published by AEI Press.
The review quotes the book: " The evidence suggests, if anything, that
the expansion of the discount retail trade industry has been associated with
a net creation of jobs in America. " I doubt that. Free market economic
theory predicts that the number of jobs created by Walmart should be equal
to the number of jobs destroyed by Walmart. Walmart does not create jobs,
Walmart does not destroy jobs. Walmart increases the standard of living, but
does not change employment.
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