Minneaplis Fed study: Wal-Mart demonization off-base

Much of the conventional wisdom about Wal-Mart Stores Inc.'s negative effects on local communities is off-base, according to a study on the "Wal-Mart effect" by the Federal Reserve Bank of Minneapolis.

Across a number of measures, the giant retailer's impact is probably a net positive, and overall its footprint on a community's well-being appears smaller than most perceive, economist Terry Fitzgerald said in the bank's "fedgazette" magazine.

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