Interestingly, the Federal Reserve Bank of Minneapolis takes a look at that question. Is Wal-Mart the evil monster that crushes "Mom & Pop" stores in every small town it enters?
The answer, it seems, is no.
Wal-Mart is widely believed to destroy local firms and jobs and to have a dampening effect on wages. But fedgazette
findings suggest the opposite: Firm growth, employment and total
earnings were somewhat stronger in Wal-Mart counties and, in some
cases, even in the retail sector.
The report is an interesting read. Check it out here.