Timothy P. Carney is the senior political columnist at the Washington Examiner and a senior fellow at the American Enterprise Institute. He is the author of Alienated America: Why Some Places Thrive While Others Collapse, The Big Ripoff, and Obamanomics.
Capitalism isn’t always about competition. Sometimes, it functions like a team sport. Economists, for instance, talk about “complementary goods.” Apps such as Twitter and WhatsApp made iPhones and Androids more valuable. High-quality, affordable speakers and headphones make people more likely to buy music. It’s a win-win for different companies.
Walmart has a unique position to judge this, being a massive retailer of food and a leading filler of prescription drugs. What the company’s data show: Shoppers picking up Ozempic or Wegovy are also buying less food than they used to. The drugmakers’ gain is the snackmakers’ pain.
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Dialysis company shares plunge after Ozempic trial success vs. kidney troubleSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: MKTWgoldstein.
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