gresham-law
Gresham's law
noun Economics.
the tendency of the inferior of two forms of currency to circulate more freely than, or to the exclusion of, the superior, because of the hoarding of the latter.
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Based on the Random House Dictionary, © Random House, Inc. 2013.
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Based on the Random House Dictionary, © Random House, Inc. 2013.
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Link To gresham-law
Collins
World English Dictionary
| Gresham's law or Gresham's theorem | |
| —n | |
| the economic hypothesis that bad money drives good money out of circulation; the superior currency will tend to be hoarded and the inferior will thus dominate the circulation | |
| [C16: named after Sir Thomas | |
| Gresham's theorem or Gresham's theorem | |
| —n | |
| [C16: named after Sir Thomas | |
Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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00:10
Gresham-law
is always a great word to know.
So is gobo. Does it mean:
| a children's mummer's parade, as on the Fourth of July, with prizes for the best costumes. |
| a screen or mat covered with a dark material for shielding a camera lens from excess light or glare. |
American Heritage
Cultural Dictionary
Gresham's law [(gresh-uhmz)]An economic principle proposed by an English financier, Sir Thomas Gresham, that bad money will drive good money out of circulation. For example, if the U.S. government minted silver dollars and then, at a later date, began to mint dollar coins out of cheaper metals, the public would hoard the silver dollars (possibly for later sale at higher prices) rather than use them as a medium of exchange: silver dollars would stop circulating.
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source
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