Definition of Gresham's law
: 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 and Etymology of gresham's law
Sir Thomas Gresham
First Known Use: 1858
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