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Gresham's Law | Send-To | Print | More
Category: Business & Economy | 1341 views
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© WordNet, Princeton University
The principle that when two kinds of money having the same denominational value are in circulation the intrinsically more valuable money will be hoarded and the money of lower intrinsic value will circulate more freely until the intrinsically more valuable money is driven out of circulation; bad money drives out good; credited to Sir Thomas Gresham.
Additional notice by the Author: WordNet 2.0 Copyright © 2003 by Princeton University. All rights reserved. This software and database is provided "as is" and Princeton University makes no representations or warranties, express or implied. By way of example, but not limitation, Princeton University makes no representations or warranties of merchantability or fitness for any particular purpose or that the use of the licensed software, database or documentation will not infringe any third party patents, copyrights, trademarks or other rights.
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