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Aug 30, 2006

"No system or machinery or economic doctrine or theory stands on its own feet: it is invariably built on a metaphysical foundation, that is to say, upon man's basic outlook on life, its meaning and its purpose. I have talked about the religion of economics, the idol worship of material possessions, of consumption and the so-called standard of living, and the fateful propensity that rejoices in the fact that 'what were luxuries to our fathers have become necessities for us.'" --E. F. Schumacher

Small-Mart Revolution

Wal-mart: those who love the retailer say that it provides 1.8 million jobs and makes life's necessities affordable to its 176 million weekly customers with limited incomes; those who hate the $312-billion-a-year behemoth refer to the "externalities" of those low prices -- the environmental degradation caused by sourcing cheap goods, the public services required by low-paid employees unable to make ends meet, and the poor labor conditions under which many of its suppliers' products are made. So what would the world be like without a Wal-Mart? It isn't a simple answer but Michael Shuman takes it on his new book: Small-Mart Revolution.