词汇 | gresham-s law |
词源 | Gresham’s Law. Though the tendency of bad money to drive good money out of circulation is known as Gresham’s Law, it was formulated as an economic principle long before Sir Tho- mas Gresham (ca. 1519–79). Gresham, a London merchant and founder of what is now the Royal Exchange, noted that the more valuable of two similar coins would be hoarded, but Co- pernicus and others had already made similar observations. Unaware that he had not formulated the principle, the econo- mist H. D. MacLeod named the law for Gresham in 1857. |
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