How Walmart profits while pricing below cost

@doctorow’s book Little Brother has a near-future where microsoft just gives away Xboxes, and only sells games.

shhh, you’re disturbing the air of superiority

A must see.

https://twitter.com/jordanlm__/status/908077335135571968

Loss leaders were actually made illegal in Ireland in 1987 after a price war forced a grocery chain out of business. (https://en.wikipedia.org/wiki/Retail_in_the_Republic_of_Ireland#Supermarkets)

The law was repealed in 2006 though after a lot of lobbying by retailer groups.

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