Some Notes on the Gresham's Law of Money Circulation

Some Notes on the Gresham's Law of Money Circulation

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Author(s)

Author(s): Amelia Carolina Sparavigna

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DOI: 10.18483/ijSci.417 752 1575 80-91 Volume 3 - Feb 2014

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

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