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Gresham's law

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noun Gresh·am's law \ˈgre-shəmz-\

Definition of Gresham's law

  1. :  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



Origin of gresham's law

Sir Thomas Gresham


First Known Use: 1858


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WORD OF THE DAY

to dishevel or rumple

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