1910s
Still common
Definition
An accusation that someone — usually a politician — is treating money or resources as if they're endless.
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Where "Magic Pudding" Comes From
The phrase comes from Norman Lindsay's beloved 1918 children's book The Magic Pudding, starring Albert — a pudding that magically refills itself no matter how much anyone eats.
Since at least the 1970s, Australians have borrowed the image for economics and politics, mocking anyone who spends as though the "pudding" will never run out.
Example Sentence
Critics said the policy treated the budget like a magic pudding that never runs dry.
How Aussies Actually Use It
Almost always used critically, in political and economic commentary, to accuse someone of magical thinking about money.
A distinctly Australian way of invoking a beloved children's story to make a serious economic point.
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