Gresham's law en · PROPN
Etymology
Named after English merchant and financier Thomas Gresham (1519–1579) by Scottish economist and lawyer Henry Dunning Macleod in 1858.
Meanings
- A principle stating that when a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation.