bad money drives out good en · X
Etymology
Traditional sentiment, both in literal and metaphorical sense, dating to ancient works such as Aristophanes' The Frogs, and appearing in various forms in various Islamic and European medieval texts.
Meanings
- Debased coinage (with low levels of precious metals) replaces purer coinage (with higher levels of precious metals).
- People hoard good currency and other assets and attempt to pass inferior currency and assets to others in exchange.
- (figuratively, in organizations and labor markets) Overvalued mediocre talent replaces undervalued real talent.
Relateds
dollarization · Gresham's law · throw good money after bad
Translations (7)
pl zły pieniądz zastępuje dobry (debased coinage replaces purer coinage) · cmn 劣幣驅逐良幣 /劣币驱逐良币 (mediocre talent drives away real talent) · cmn 劣幣驅逐良幣 /劣币驱逐良币 (debased coinage replaces purer coinage) · pl utalentowani ludzie są niedoceniani (mediocre talent drives away real talent) · cs špatné peníze vytlačují dobré (debased coinage replaces purer coinage) · ko 악화가 양화를 구축한다 (debased coinage replaces purer coinage) · ja 悪貨は良貨を駆逐する (debased coinage replaces purer coinage)
wikipedia: The Frogs · wikipedia: George Selgin · wikipedia: Aristophanes