Gresham's Law: Bad coinage drives out good. [Gresham's Law] denotes that well-ascertained principle of currency which is forcibly though not quite adequately expressed in the dictum--"bad money drives out good." It has also not infrequently been explained by the statement that where two media of exchange come into circulation together, the more valuable will tend to disappear.
Quote Last Modifed: 1/1/2001 12:00:01 AM
Database Dated : 9/11/2024 6:56:13 PM
Database Dated : 9/11/2024 6:56:13 PM