A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI) (L), and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, on Jan. 21, 2022. Lee Jin-man/AP Photo
Economists often say stocks are worth whatever people will pay for them. While true, this information isn’t very helpful. We already know what people will pay for stocks. Just look up current prices. What people really want to know is where stock prices are heading.
Robert Genetski
Author
Robert Genetski is a public speaker, author, columnist, and one the nation’s leading economists. He has taught economics at the University of Chicago’s Graduate School of Business and NYU. His latest book is “Rich Nation, Poor Nation: Why Some Nations Prosper While Others Fail.” Genetski’s website is ClassicalPrinciples.com.
