Neoclassical Economic Theory & Sociological Theory

In the opinions of Thomas Sowell, he believes that Wal-Mart, despite its billions of dollars, does not consume any obligation to treat its workers better, or offer high wages. He also believes that low wage workers should plain provoke their skills. He is not only wrong on his assumptions, further is misleading and condescending. Through using the sociological critique of empty market theory, and the facts provided by the film Bigger Boxes: The Battle everywhere Americas Superstores, it shows that his argument is not only unlearned but wrong.
Recently, the former chairman of the federal reserve, Alan Greenspan, said that he finally realizes that a free market can not go unchecked. Why did he say this? It is quite patent that the system we have now doesnt work, you can itemize just by looking at our current economy. By letting businesses, such as Wal-Mart, grow to astronomical sizes, being worth more(prenominal) than most small countries, yet unchanging remuneration their workers a minimum wage, is unbelievable. Sowell quotes the New York Times, saying backsidet a retail behemoth pay more? and goes on to ask why should any of us pay more than we have to?. It is not a matter of if a company has to pay more to its workers, it is a matter of should it, and take down though Sowell himself doesnt remember signing a brotherly contract, it indeed does exist.



While not extending to specific wages, it should, in general beca workout of the heavy tax burden low wage workers frame in on the government, costing tax payers more in the ample run.
Sowells next argument is that the workers, to prevail out of this environment, should simply upgrade their skills, which in theory sounds legitimate, but being in that sort of situation, how or when do you find time to genuinely upgrade them? He believes that in a free market, the workers use these low wage jobs as stepping stones, when in reality, the companies are paseo all over the low wage workers; offering no benefits, low wages, poor working conditions and horrible hours.
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