When Ikea founder Ingvar Kamprad died in 2018, he could claim a net worth of $58.7 billion. Kamprad’s enormous wealth is unsurprisingly a rejection of the way in which media types explain wealth creation.
To see why this is true, just Google Google 0.0% “pricing power” in concert with “stock-price increase.” Your computer will explode. Which is an exaggeration, but not too much.
To read about corporations is to read analyses correlating so-called “pricing power” with an increase in a company’s share price. It all makes sense, right? Investors prioritize profits, and if a company has “pricing power”…
Read the entire article at Forbes
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John Tamny is Founder and President of the Parkview Institute, editor of RealClearMarkets, senior fellow at the Market Institute, and Senior Economic Adviser to mutual fund firm Applied Finance Group. Tamny is the author of eight books. His latest is The Deficit Delusion: Why Everything Left, Right and Supply-Side Tell You About the National Debt Is Wrong. His others are Bringing Adam Smith Into the American Home: A Case Against Home Ownership, The Money Confusion, When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason, Popular Economics, Who Needs the Fed?, The End of Work, and They're Both Wrong: A Policy Guide for America's Frustrated Independent Thinkers.
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