gresham's law

Gresham's law

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Definitions of gresham's law words

noun gresham's law the tendency of the inferior of two forms of currency to circulate more freely than, or to the exclusion of, the superior, because of the hoarding of the latter. 1
noun gresham's law the economic hypothesis that bad money drives good money out of circulation; the superior currency will tend to be hoarded and the inferior will thus dominate the circulation 0
noun gresham's law 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 0

before 1855

One of the 30% newest English words

First recorded in 1855-60; named after Sir T. Gresham

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exclamation

This term is known only to a narrow circle of people with rare knowledge. Only 5% of English native speakers know the meaning of this word.

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