Bad money drives out good money - bad money drives out good money
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When currencies with the same nominal value but different real values circulate simultaneously within a country, there is a tendency for good currency to be hoarded and not used, and only bad currency to circulate in the market. This is known as "Gresham's Law." Source: The Selected Edition of the Japanese Language Dictionary About the Selected Edition of the Japanese Language Dictionary Information |
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同一の名目価値をもちながら、実質的価値の違う貨幣が同時に一国内で流通する時には、良貨は貯蔵されて用いられなくなり、悪貨だけが市場に流通する傾向を生じる、ということ。いわゆる「グレシャムの法則」のこと。
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