Gresham's Law Definition
grĕshəmz
noun
The theory that when two or more kinds of money of equal denomination but unequal intrinsic value are in circulation, the one of greater value will tend to be hoarded or exported; popularly, the principle that bad money will drive good money out of circulation.
Webster's New World
Origin of Gresham's Law
After Sir Thomas Gresham
From American Heritage Dictionary of the English Language, 5th Edition
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