Owing to their legal tender status, the operation of Gresham's Law
swiftly ensured that greenbacks would displace gold in payments.
5) Like Mariana, Oresme is noteworthy for anticipating Gresham's law
(28) and for insisting that currency debasement is tantamount to tyranny (35).
For curiosity I made a comparison with last year's issues of the same magazine; and I can not suggest a more convincing exercise for any person who doubts the validity of Gresham's law
in the premises, nor can I suggest a more substantial basis for generalization.
He named it Gresham's law
after reading a letter to Queen Elizabeth from Thomas Gresham (1519-79), an English merchant working as the Crown's financial representative in Antwerp.
takes effect in part because legal penalties against discrimination make it prudent for sellers to treat bad money as the de facto unit of account and for buyers to offer only bad money in exchange [Selgin 1996].
In other words, rather than seeing politics as something getting in the way of a good theory (and one can only applaud the notion of the participants in the seminar that good ideas should have greater currency than bad ones -- no Gresham's Law
It was thought competition between the two currencies could lead to Gresham's Law
that bad money drives out good, as in the sterling-dollar experience, and greater exchange-rate volatility.
Intriguingly, she argues that melodrama (which in a kind of Gresham's law
of drama was driving tragedy and classic comedy from American stages) gained persuasiveness through its exemplification of performance, an attribute critical to Victorian middle-class society.
Bukofzer's choice of adjectives makes his estimation clear: the lute is "dignified" and worthy of serious consideration; the guitar, on the other hand, is "noisy" and "vulgar," an illegitimate usurper functioning as the negative variable in a musicological equivalent of Gresham's law
Kuttner's travelogue encompasses Thomas Aquinas and Milton Friedman, George Orwell and Gresham's Law
Word fads can cripple the language because they operate by a kind of verbal Gresham's Law
Colwell and Trefzger cite Gresham's Law
,(7) "Bad money drives out good," or in this case, lemons drive out cream puffs.