Greshazus Law Enunciated
Greshazu's Law , enunciated by Sir Thomas Gresham (adviser to Queen Elizabeth I) alter an inquiry into the debasement of the coinage; his conclusion was: 'Bad money drives out good.' When a debased and a good currency circulate together, people tend to hoard the good and try to pass on the bad in repayment of debts. In time the least acceptable form tends to set the commercial exchange value of the whole currency and the more acceptable are withdrawn because they are worth more and put to other uses.
More? Economic Crisis - Economic Crisis 2012
- Gross National Product
- Hot Money
- The Council On Foreign Relations Polled Economists To Identify Five Trends To Watch In The Coming Year. They All Fall Under The Increasingly Common Theme Of A�uncertainty,a� And Most Of Them Touch On U.s. Or Euro-zone Policies.
- Hong Kong Remains World Leader In Economic Freedom 2012 Index Shows