Definition of Gresham's law

1. Noun. (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.

Generic synonyms: Principle, Rule
Category relationships: Economic Science, Economics, Political Economy

Gresham's Law Pictures

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Lexicographical Neighbors of Gresham's Law

Gregory Nazianzen
Gregory Pincus
Gregory VII
Gregory XIII
Gregory of Nazianzen
Gregory the Great
Greig's syndrome
Grenada dollar
Gresham's Law
Greta Garbo
Greta Louisa Gustafsson
Greville bath
Grevillea banksii
Grevillea robusta
Grevillea striata
Grevillela parallela
Grewia asiatica

Literary usage of Gresham's law

Below you will find example usage of this term as found in modern and/or classical literature:

1. British Labor Conditions and Legislation During the War by Matthew Brown Hammond (1919)
"Gresham.s law of money circulation, 83, 85. Guyot, Yves, 89. ... 85; Gresham.s law of circulation. 83; reason for failure to circulate freely. 85. ..."

2. The Principles of Money by James Laurence Laughlin (1903)
"Under the normal action of Gresham,s Law, the depreciated paper of the national government invaded the state and became a menace to all creditors who had ..."

3. Economics: An Account of the Relations Between Private Property and Public by Arthur Twining Hadley (1896)
"... of the English-speaking world by Sir Thomas Gresham, Chancellor of the Exchequer under Elizabeth, and is commonly referred to as Gresham s Law. ยง 213. ..."

4. Chamber's Encyclopaedia: A Dictionary of Universal Knowledge (1888)
"... and is the counterpart of Gresham s Law in the present controversy. If, then, the possibility of international bimetallism on a conventional basis is ..."

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