English dictionary
gresham's law meaning and definition
Definition and meaning of gresham's law at MeaningMonkey.org. gresham's law meaning and definition in the English Dictionary.GRESHAM'S LAW noun
Definition of Gresham's Law (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
Source: Princeton University Wordnet