With A Downturn In The Business Cycle, Gresham’s Law Proves More Emphasis on Quality

Gresham's Law
Sir Thomas Gresham advised the English royalty on economic matters in the 16th Century and helped the crown to stabilize the value of its money by arguing for the usage of less precious metal in the manufacture of coins. He reportedly uttered what is now known as “Gresham’s Law” that “bad money drives out good,” that is, that when people begin to use newly minted coins—whatever their real...
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