Main Entry: Gresh·am's law

Pronunciation: \ˈgre-shəmz-\

Function: noun

Etymology: Sir Thomas Gresham

Date: 1858

: an observation in economics: when two coins are equal in debt-paying value but unequal in intrinsic value, the one having the lesser intrinsic value tends to remain in circulation and the other to be hoarded or exported as bullion; broadly : any process by which inferior products or practices drive out superior ones