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"Unspendable Wealth" (Molly Jong-Fast) [View all]
Fellow economics geeks: I've been pondering this concept for awhile, but didn't have a term for it.
Do any economic/monetary theories address what happens when wealth reaches extremes such as Musk? Assuming that unspendable wealth wants to be "put to work" somewhere, generating interest or further returns, where does it go? Does it eventually reach a point where it sucks all the money out of the system?
Or do central banks keep creating new money to pay interest on unspendable wealth?
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