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But few if any American enterprises, no matter how huge and momentarily successful, have enjoyed uninterrupted bliss. The betting in dozens of tiny stores around the country is that Wal-Mart will reach its own plateau. Despite the superb management team Walton left in place, his death will inevitably mean that the soul of his corporation will change. Community irritation at secretive and standoffish ways of Wal-Mart managers, the "us" (Wal-Mart) against "them" (downtown merchants) attitude, and the modest involvement in public affairs and charities by store officers are building resentment.
Then there is the matter of basic economics. James McConkey can't scientifically prove it, but his hunch is that people who drive 20 miles to a Wal-Mart, and so contribute to the decline of their town, end up paying higher taxes, which is a premium for the merchandise they get. Eventually, the pendulum will swing, the marketplace will adjust. That is what American capitalism is all about, as Mr. Sam knew as well as any merchant of the modern age.
CHART: NOT AVAILABLE
CREDIT: TIME Graphic by Joe Lertola
CAPTION: LOW PRICES, HIGH SALES