Capitalism plus Kylie Jenner plus free social media equals the road to a billionaire. @JohnTamny

Jul 21, 03:13 AM

AUTHOR.

(Photo:

Description 

English: Andrew Carnegie (1835-1919) and Louise Whitfield Carnegie (1857-1946) in 1915.

Date 1915

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Capitalism plus Kylie Jenner plus free social media equals the road to a billionaire. @JohnTamny

https://www.forbes.com/sites/johntamny/2018/07/15/young-kylie-jenner-lays-waste-to-deficit-demographic-and-inequality-hand-wringers/#299070497380

Kylie Jenner owns 100% of a company that Forbes values conservatively at $800 million, and that has twelve (seven full-time, five part-time) employees. Manufacture of Kylie Cosmetics is all outsourced, as are sales/fulfillment. Jenner's marketing budget was/is Instragram/Snapchat. Her rapid path to near-billionaire status lays further waste to the theories of fiscal warmists who've long been predicting "national fiscal doom" due to budget deficits, and economic doom thanks to low birthrates. These theories were always rooted in a static view of human capacity to prosper, and a false belief that countries are impregnable islands inhabited by people incapable of interacting with the rest of the world. As for the inequality that members of the right laughably blame on the Fed and "crony capitalism," and that lefties blame on the greedy, it's actually the happy result of technology that continues to enable the talented to serve more and more of the world. Jenner lacks a college degree, but her achievements lay waste to decades of economic theory foisted on us by people who are thick with degrees, but who lack common sense. The opinion piece can be found here.