This is how capitalism is supposed to work: competition bringing low cost goods to customers. And it looks like it's working.
Target announced earlier today that it would match its chief competitor's price cut on 150 generic prescription drugs in Florida. Wal-Mart started rolling the price ball downhill yesterday, and the world's largest retailer plans to take its pricing strategy to all of it's USA stores next year.
Will others join in? Where I live, Chicago-area based Walgreens dominates the pharmacy market. If Wal-Mart and Target make the generic pricing strategy a nationwide policy, Walgreens and others will be hard-pressed not to follow suit.
As for union-funded Wal-Mart Watch and Wake Up Wal-Mart, they need to know that in terms of the overall economy, a "living wage" isn't the only answer to any real or perceived problems.
But look for the jabs against Wal-Mart to continue. Last night during Jay Leno's Tonight Show monologue, Jay quipped that Wal-Mart's price cuts still mean that Wal-Mart employees can't afford prescription drugs.
However, Jay did get in a very funny joke about Willie Nelson's tour bus being a giant bong, with the tail pipe being the the inhalation port.
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