Greshazus Law Enunciated

Greshazus <em><strong>Law</strong></em>  Enunciated

Greshazu's Law , enunciated by Sir Thomas Gresham (adviser to Queen Elizabeth I) alter an inquiry into the debasement of the coinage; his conclusion was: 'Bad money drives out good.' When a debased and a good currency circulate together, people tend to hoard the good and try to pass on the bad in repayment of debts. In time the least acceptable form tends to set the commercial exchange value of the whole currency and the more acceptable are withdrawn because they are worth more and put to other uses.

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Since then his writings have in turn been increasingly reinterpreted as a special case both by some followers and by some economists who had not wholly accepted his writings. The content of economics is in a state of change, and this site is therefore not a final statement of economic doctrine.

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