The Scrooge McDuck theory of the rich

by John Quiggin on September 25, 2021

Readers of a certain age will remember Scrooge McDuck, the mega-rich uncle of Donald, who enjoys diving into his gigantic money bin filled with gold coins. Replace gold with paper currency[1] and you have the archetypal version of a theory of the rich [2] popular in some versions of Modern Monetary Theory.

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