The Supermarket Index – Francis Turner

Watch the supermarket index. It’s a good measure how prosperous a country is.

According To Hoyt

The Supermarket Index

Francis Turner

If you want a single concept to judge how successful a modern economy is you could do worse than look at the quality and quantity of supermarkets it supports. These days, some 70 or 80 years after they were first invented in the USA, just about every nation on earth has them, with the possible exception of a few socialist “paradises” and perhaps a couple of utterly undeveloped nations somewhere. Supermarkets are, I would venture to say, one of the most influential inventions of all time and they have radically improved the lot of millions, probably billions, of people because we all shop at supermarkets if we can and we wouldn’t do that if the alternatives made sense. In fact someone has done the sums about just one chain (Wal-Mart):

There is little dispute that Wal-Mart’s price reductions have benefited the 120 million American workers…

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