Recent history shows the political danger in threatening low consumer prices. The public's reaction to the inflation of the past few years suggests that many Americans would rather be slightly poorer but have price stability than be richer but with more inflation. That will tempt policy makers to prioritize low prices above all else and embrace the

Walmart transformed retail from a fragmented, supplier-driven model into a tightly coordinated, data-centric system. Before Walmart, large manufacturers, who controlled production, determined how value was distributed. In Walmart’s world, the distribution of value was determined by whoever coordinated the new system.