Some Notes on the Gresham's Law of Money Circulation

Amelia Carolina Sparavigna

International Journal of Sciences, 2014, vol. 3, issue 02, 80-91

Abstract: The Gresham's Law is among the most known laws of economic science. In its popular version, the law is telling that when a government overvalues one type of money and undervalues another, the undervalued money disappears while the overvalued money floods into circulation. Named after Thomas Gresham, a financier of Tudor dynasty, this law was stated by Nicole Oresme and Nicolaus Copernicus. Here we discuss it and follow its long history.

Keywords: Money Circulation; Commodities; Legal Tenders (search for similar items in EconPapers)
Date: 2014
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DOI: 10.18483/ijSci.417

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