Actually, that isn't the wealth creation. It is am important market and business function, but the process of want creation and distribution are actually eliminating market inefficiencies, not increasing wealth. Of course, my argument is based upon the simplistic economic model, and I pay no heed to people that believe want creation yields emotional value through the deliverance of material satisfaction. Now, if you mean to say that business people are responsible for increasing factor income, than yes, exactly.
The exact specifics of the "how" are what everyone is trying to figure out, with varying degrees of success.