What does gresham's law mean?
Definitions for gresham's law
gre·sham's law
This dictionary definitions page includes all the possible meanings, example usage and translations of the word gresham's law.
Princeton's WordNet
Gresham's Lawnoun
(economics) 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
Wikipedia
Gresham's law
In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation.The law was named in 1860 by economist Henry Dunning Macleod after Sir Thomas Gresham (1519–1579), an English financier during the Tudor dynasty. Gresham had urged Queen Elizabeth to restore confidence in then-debased English currency. The concept was thoroughly defined in medieval Europe by Nicolaus Copernicus and known centuries earlier in classical Antiquity, the Middle East and China.
ChatGPT
gresham's law
Gresham's Law is an economic theory that suggests when two forms of commodities or money are in circulation, the one perceived to have more intrinsic value will be hoarded and the one perceived as lesser will be circulated. This can be summed up by the phrase, "Bad money drives out good.” The law was named after Sir Thomas Gresham, a 16th-century financial agent of the English Crown in the city of Antwerp, to explain the poor state of the English coinage.
Numerology
Chaldean Numerology
The numerical value of gresham's law in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of gresham's law in Pythagorean Numerology is: 9
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"gresham's law." Definitions.net. STANDS4 LLC, 2024. Web. 17 May 2024. <https://www.definitions.net/definition/gresham%27s+law>.
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