"A situation in which a single company owns all or nearly all of the markett for a given type of product or service. This would occur in the case where there is a barrier to entry into the industry that allows the single company to operate without compettition,( for example vast economies of scale; barriers to entry or governmental regulation.) In such an industry structure the producer will often produce a volume that is less than the amount that would maximise social welfare."
Thats the economists definition of Monopoly; which by the way I never said Wal-Mart was; I said it utilised monopolistic practice to shut down other suppliers.
But actually it is the real definition of a "Monopsony". You can look that up if you want to know something about this subject.
As to your last statement I would suggest you do the research as this looks like you are completely in the dark regarding basic economics.

SO on the one hand you say they do "monopolistic practioses" (ie they behave as a monopoly) and on the other hand you say they are also a monopsony.
I don't see any point in continuing this dicussion, one of us lacks a knowledge of basic economic theory & how the free market works.
-akhilesh

But in the case of Wal Mart we are witnessing a new paradigm - a monopoly (or monopsony) that is able to provide the lowest prices by bullying their providers (suppliers, communities, employees, etc.) to sell their goods and services for less. There's no question that Wal Mart customers appreciate their low prices, and that these low prices benefit society by forcing Wal Mart's competitors to lower prices, enbaling people to have more for less.

The problem with the power of Wal Mart and other mega corporatins is that there's an enormous hidden cost. Their suppliers, required to lower prices year after year, are forced to move their manufacturing facilities overseas to comply, thus jobs are lost. Of course they could just say no, but Wal Mart is so big that they can't afford to not be a supplier and remain in business. Communities, desparate for new businesses to generate jobs, are forced to provide tax incentives to attract Wal Mart stores. Then when Wal Mart opens a store small competitors in the community go under - notice the closed and boarded businesses on the main street of any small town that has a Wal Mart. Local people desperate for employment accept Wal Mart jobs because there are no other options, and are forced to work for wages that don't permit them to buy medical insurance, forcing the State to assume the cost of medical treatment for the uninsured. It goes on and on. Wal Mart isn't unique, but by virtue of its enormous size and clout it is able to do these things more effectively than competitors.

As a conservative/moderate type I would prefer to ignore these adverse effects. I like low prices. I'm not a Wal Mart supplier, I can afford medical insurance, I'm retired so it's unlikely my job will be exported to China, etc. But as the number of people effected by this phenomenon grows, it becomes impossible to have any social conscience and not be concerned about it.

I don't know the answer, but I know it isn't simple. I suppose it rests in legislators' and regulators' ability and willingness to view Wal Mart and other mega corporations as monopolistic in their dealings with suppliers, customers, and communities, and to enact regulations that limit its power. Not likely, because these mega corporations now fund elections through their PAC's.

• Wake Up Wal Mart Blog

I received payments for each of my invoices in about 90 days, which I understand from other vendors was better treatment than most companies got. Some waited 120 days and more for payment. Wal-Mart wanted extremely competitive pricing, and they used vendors from around the world so they could find the lowest price possible. But I didn't blame them for any of these things - It was their right and I saw it as reasonably smart.

However, I got tired of working so hard for pennies. I did earn a profit on my designs, and the quantities involved made each project fairly lucrative. But in the end, I didn't feel it was worth it. So I stopped dealing with Wal-Mart after a few projects. Seems to me everyone has the same choice. If you don't want to deal with Wal-Mart, don't.