28 May '13, 9am
It was hard to spot, at first. It started with one store on the outskirts of town. It was big. Monolithic. It amalgamated a lot of cheap, largely imported stuff and sold the stuff on. The workers were paid very little. The suppliers were squeezed tight on their margins. And so it grew. And as it grew, it hollowed out the high street. The high street could not compete with the monoliths sheer power. They couldn’t compete with the monoliths influence on markets. They couldn’t compete with the monoliths unique insights gained from clever number crunching of big data sets. I’m talking about Wal Mart, of course. Love ‘em or loathe ‘em, Walmart gave people what they wanted, but in so doing, hollowed out a chunk of America's middle class. It displaced a lot of shop keepers. It displaced small business owners on Main Street. It displaced the small family retail chain that provided...