The local Dollar General store, built on a rural highway and surrounded by farmland, sells no fresh meat, greens or fruit. Yet the 7,400-square-foot steel-sided store has most of what Eddie Watson needs.
Dollar General Corp.’s 14,000 stores yielded more than double the profit of Macy’s Inc. on less revenue during its most recent fiscal year. And its $22 billion market value eclipses the largest U.S. grocery chain, Kroger Co., which has five times the revenue.
The more the rural U.S. struggles, company officials said, the more places Dollar General has found to prosper. “The economy is continuing to create more of our core customer,” Chief Executive Todd Vasos said in an interview at the company’s Goodlettsville, Tenn., headquarters.
Dollar General’s typical shopper “doesn’t look at her pantry or her refrigerator and say, ‘You know, I’m going to be out of ketchup in the next few days. I’m going to order a few bottles,’” said Mr. Vasos, the company’s chief executive. “The core customer uses the last bit of ketchup at the table the night prior, and either on her way to work or on her way home picks up one bottle.”
Camouflage is a proven winner. This year, Dollar General became the exclusive seller of dog food from the camouflage-gear brand Mossy Oak. “Even off-brand camo does well here,” said the Evensville store manager Justin Ray, who has a display of camouflage merchandise, including pacifiers and pet toys.
We live in interesting times. The world system is slowly shifting back to the historical norm. That norm being that most people and economic production would occur in Asia.
The book When Asia Was the World chronicles period the between after the fall of the Roman Empirea and on the cusp of the European Age of Discovery. It prefigures a world of interconnections which don’t necessarily loop back to the West. It is strange on Facebook seeing my cousins on Bangladesh joining the international economy, but that economy not necessarily having the United States at its center and fulcrum. We are still the biggest player…but we are not necessarily an indispensable player.
Today, the company employs 130,000 people in India — about one-third of its total work force, and more than in any other country. Their work spans the entire gamut of IBM’s businesses, from managing the computing needs of global giants like AT&T and Shell to performing cutting-edge research in fields like visual search, artificial intelligence and computer vision for self-driving cars. One team is even working with the producers of Sesame Street to teach vocabulary to kindergartners in Atlanta.
This is as much a social story as it is a matter of economics. A new global class is organically developing along the scaffolds provided by international corporations. This class, dare I say caste, is beginning to supersede the importance of the Tribes which Joel Kotkin wrote about in the early 1990s.
And no matter what Thomas Friedman and Francis Fukuyama tried to tell us, I’m not quite sure that the global cosmopolitan culture will reflect the mores and preoccupations of the Western post-materialist elite. To be entirely frank I’m not totally sure that this is a bad thing, either.
We can look at economic projections all we want. But the protean and unpredictable nature of cultural changes is really where the action is going to happen in the next few decades, as Islamic revivalism begins to fade and burn itself out.
Andrew Charles from Cowen cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017. The technology upgrades, part of what McDonald’s calls “Experience of the Future,” includes digital ordering kiosks that will be offered in 2,500 restaurants by the end of the year and table delivery.
There are 14,500 locations. Right now 500 stores have kiosks.
That man is Jean-Luc Mélenchon, admirer of Fidel Castro and Hugo Chávez, sworn enemy of NATO and high finance, and candidate of his own “France Unsubjugated” movement, who has been drawing tens of thousands to his rallies, especially the young, as he did here Sunday at Toulouse on the banks of the Garonne River. They came to hear a veteran French politician give them a dousing of old-fashioned Robin Hood-revolutionary rhetoric, with promises to tax the rich hard, give to the poor and start a “citizen revolution.”
There is a serious chance that this will be the next president of the French republic. This man, who has no problems being called a Communist. If there is one political system where the experiment has been done, it is command economy socialism. There may be cases of market failure where the state needs to intervene, but by and large an economy dominated by the state has not done good for the common man.
And yet the reality is what alternatives are the people being given? They are looking Left and looking Right, because they want hope that the future will have some of the promise that the past had. Sober realistic centrists with broadly liberal views only offer them only hard truths.
Truths such as this: Evidence That Robots Are Winning the Race for American Jobs. The far Left anti-capitalist program in economics really doesn’t offer a long run path to prosperity. But capitalism itself only leads to individual and broad-based prosperity as a side effect of market logic. If returns to capital could accrue without labor inputs, then that would be even “better.”