London Times editorial nicely describes the evolution of the UK the retail industry, with a Friedmanite stance.
Begs the eternal question: what happens beyond Wal-Mart? What happens when supply chains and distribution - and markets - are totally efficient? Will there be any room for strategic innovation, creativity, or flexibility? What will the face of the Wal-Mart killer look like?
Interesting points to ponder, especially now that many past icons of American style business are crumbling because of strategic decay and discontinuities in consumer needs as well as competitors' innovation.