Gresham's Law

Definition

Observation that "bad money drives out good money." Leading 16th century businessman Sir Thomas Gresham (1519-79), who was also the financial advisor to Queen Elizabeth-I, noticed that when debased ('light') coins circulate together with the coins of proper weight and value, people hoard the good ones and pass on the bad ones.


Gresham's Law is...

... in the Economics, Politics, & Society subject.

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