In my spare time, I really enjoy reading on topics related to economics.  It's an interest that I really did not discover until recently, and I think the enjoyment I find in economics centers on considering the sheer complexity of the factors and systems that make up economies.

One of my favorite places to find interesting articles is EconTalk, where I recently found a podcast interview with Charles Platt called "Working at Walmart".  He talks about what it is like to apply for a job at Walmart and what it is like to work there.  This is the same Charles Platt who is a science fiction writer best known for his book, "The Silicon Man".

One of Pratt's observations stuck in my mind when he said that Walmart informs all employees of the profit margin for every product they sell.  Using a hand held scanner called a Telxon which links to a computer, the employee can find out how much of a product is available in stock, the price, and how much is paid for the item.  Walmart wants employees to be well informed because employees even at the lowest level have independent authority to reorder merchandise or to do "Special" value pricing for products.  Walmart recognizes that these employees speak daily with customers and while they understand they assume some risk in this, they are careful in their hiring process making sure to select honest, sincere, and friendly people.

This is a degree of employee autonomy that I have not seen before, particularly for a company as large as Walmart.  But it makes me consider the possibilities for other industries.