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Meaning of "Gresham's law" in the English dictionary

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DICTIONARY
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ETYMOLOGY OF THE WORD GRESHAM'S LAW

Named after Sir Thomas Gresham.
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Etymology is the study of the origin of words and their changes in structure and significance.
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PRONUNCIATION OF GRESHAM'S LAW

Gresham's law play
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GRAMMATICAL CATEGORY OF GRESHAM'S LAW

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Gresham's law is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES GRESHAM'S LAW MEAN IN ENGLISH?

Gresham's law

Gresham's law is an economic principle that states: "When a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation." It is commonly stated as: "Bad money drives out good". This law applies specifically when there are two forms of commodity money in circulation which are required by legal-tender laws to be accepted as having similar face values for economic transactions. The artificially overvalued money tends to drive an artificially undervalued money out of circulation and is a consequence of price control. The law was named in 1858 by Henry Dunning Macleod, after Sir Thomas Gresham, who was an English financier during the Tudor dynasty. However, there are numerous predecessors. The law had been stated earlier by Nicolaus Copernicus; for this reason, it is occasionally known as the Copernicus Law.

Definition of Gresham's law in the English dictionary

The definition of Gresham's law in the dictionary is the economic hypothesis that bad money drives good money out of circulation; the superior currency will tend to be hoarded and the inferior will thus dominate the circulation.

WORDS THAT BEGIN LIKE GRESHAM'S LAW

Grenada
grenade
Grenadian
grenadier
grenadilla
grenadine
Grenadines
Grendel
Grenfell
Grenoble
Grenville
grenz rays
Gresham
Gresham´s theorem
gressorial
gressorious
Gretna Green
Gretzky
Greuze
Greville

WORDS THAT END LIKE GRESHAM'S LAW

Avogadro´s law
Boyle´s law
Bragg´s law
Buys Ballot´s law
Coulomb´s law
court of law
Curie-Weiss law
Dalton´s law
Gay-Lussac´s law
Henry´s law
Hooke´s law
Hubble´s law
ideal gas law
Lenz´s law
Murphy´s law
Ohm´s law
Parkinson´s law
pass law
Scots law
Snell´s law
Sod´s law

Synonyms and antonyms of Gresham's law in the English dictionary of synonyms

SYNONYMS

Translation of «Gresham's law» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF GRESHAM'S LAW

Find out the translation of Gresham's law to 25 languages with our English multilingual translator.
The translations of Gresham's law from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «Gresham's law» in English.

Translator English - Chinese

格雷欣法则
1,325 millions of speakers

Translator English - Spanish

La ley de Gresham
570 millions of speakers

English

Gresham´s law
510 millions of speakers

Translator English - Hindi

ग्रेशम का कानून
380 millions of speakers
ar

Translator English - Arabic

قانون جريشام و
280 millions of speakers

Translator English - Russian

Закон Грешема
278 millions of speakers

Translator English - Portuguese

A lei de Gresham
270 millions of speakers

Translator English - Bengali

গ্রেস্যামের আইন
260 millions of speakers

Translator English - French

La loi de Gresham
220 millions of speakers

Translator English - Malay

Undang-undang Gresham
190 millions of speakers

Translator English - German

Gresham -Gesetz
180 millions of speakers

Translator English - Japanese

グレシャムの法則
130 millions of speakers

Translator English - Korean

그레 샴 의 법칙
85 millions of speakers

Translator English - Javanese

Hukum Gresham
85 millions of speakers
vi

Translator English - Vietnamese

Pháp luật Gresham
80 millions of speakers

Translator English - Tamil

கிரெஸ்ஹாம் சட்டம்
75 millions of speakers

Translator English - Marathi

ग्रेशमचे कायदे
75 millions of speakers

Translator English - Turkish

Gresham yasası
70 millions of speakers

Translator English - Italian

Legge di Gresham
65 millions of speakers

Translator English - Polish

Prawo Greshama
50 millions of speakers

Translator English - Ukrainian

Закон Грешема
40 millions of speakers

Translator English - Romanian

Legea lui Gresham
30 millions of speakers
el

Translator English - Greek

Νόμος του Gresham
15 millions of speakers
af

Translator English - Afrikaans

Gresham se wet
14 millions of speakers
sv

Translator English - Swedish

Greshams lag
10 millions of speakers
no

Translator English - Norwegian

Gresham lov
5 millions of speakers

Trends of use of Gresham's law

TRENDS

TENDENCIES OF USE OF THE TERM «GRESHAM'S LAW»

The term «Gresham's law» is normally little used and occupies the 141.617 position in our list of most widely used terms in the English dictionary.
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100%
FREQUENCY
Little used
34
/100
The map shown above gives the frequency of use of the term «Gresham's law» in the different countries.
Principal search tendencies and common uses of Gresham's law
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «Gresham's law».

FREQUENCY OF USE OF THE TERM «GRESHAM'S LAW» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «Gresham's law» during the past 500 years. Its implementation is based on analysing how often the term «Gresham's law» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about Gresham's law

EXAMPLES

10 ENGLISH BOOKS RELATING TO «GRESHAM'S LAW»

Discover the use of Gresham's law in the following bibliographical selection. Books relating to Gresham's law and brief extracts from same to provide context of its use in English literature.
1
Gresham's Law, Knowledge Or Information?: Remarks at the ...
The autonomous reader, amusing and "knowledging" himself, should be the be-all and end-all of libraries. (A brief description of the Center for the Book, in the Library of Congress, prefaces the pamphlet). (ESR)
Daniel Joseph Boorstin, 1980
2
Shakespeare and Goethe on Gresham's Law and the Single Gold ...
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1900 edition. Excerpt: .
Benjamin Edwards Green, 2013
3
The Philosophy of Science
Suppose, for example, that Gresham's law' really is true. (If one doesn't like Gresham's law, then any true and counterfactual supporting generalization of any conceivable future economics will probably do as well.) Gresham's law says ...
Richard Boyd, Philip Gasper, J. D. Trout, 1991
4
Money and Banking: A Policy-Oriented Approach
(For more on lessons about money learned from the P.O.W. camps, see the box titled “Gresham's Law and Money in P.O.W. Camps.”) Gresham's Law and Money in P.O.W. Camps In addition to illustrating how cigarettes can function as a ...
Dean Croushore, 2006
5
Principles of Money and Banking
What is Gresham's Law ? Explain how it operates ? 2. "Bad money drives good money out of circulation." Explain. 3. "Bad money drives good money out of circulation". Explain fully this statement. Is it always true ? 4. What is Gresham's Law ?
6
Great Inflations of the 20th Century: Theories, Policies, ...
INTRODUCTION Thus in advanced inflation, 'Gresham's Law' was reversed: good money tended to drive out bad, and not the other way round; the reason being the irreducible need for a serviceable medium of exchange in any modern  ...
Pierre L. Siklos, 1995
7
Philosophy of the Social Sciences: Philosophical Theory and ...
To take just one that has already featured in this chapter, what about Gresham's Law and the tendency for bad money to drive out good? It will be worth pausing here to say a bit more about this particular example, as this will help to distinguish ...
C. Mantzavinos, 2009
8
Process and Pattern in Culture: Essays in Honor of Julian H. ...
In subsequent years, MacLeod reasserted Gresham's law in various works. However, so varied are its renderings that Fetter concludes that it is difficult to say , on the basis of MacLeod's writings, just what he thought Gresham's law really said.
Robert Alan Manners, Julian Haynes Steward, 1964
9
MONEY AND BANKING
2.6 Gresham's Law Sir Thomas Gresham, an expert on Finance and founder of the Royal Exchange states the law as: “bad money tends to drive good money out of circulation, when both of them are full legal tender.” Gresham's law, as applied ...
E. NARAYANAN NADAR, 2013
10
Comparative Political Economy: A Retrospective
Gresham's law — that bad money drives good money out of circulation — is misnamed because the empirical uniformity was not discovered by Gresham at all. It was wrongly attributed to him in 1857 by Henry D. McLeod. Raymond de Roover ...
Kindleberger

10 NEWS ITEMS WHICH INCLUDE THE TERM «GRESHAM'S LAW»

Find out what the national and international press are talking about and how the term Gresham's law is used in the context of the following news items.
1
A Yale economist's take on the Greek debt crisis
There's a law in economics called Gresham's Law: bad money pushes out good money. If you have a euro and an IOU, you would prefer to give ... «domain-B, Jul 15»
2
YaleNews | A Yale economist's take on the Greek debt crisis
There's a law in economics called Gresham's Law: bad money pushes out good money. If you have a euro and an IOU, you would prefer to give ... «Yale News, Jul 15»
3
Euroclasm - Opportunity Knocks
This was Gresham's Law at work where bad money pushes out good. Frankly Greece adopting something like this would be the “soft” way of ... «InvestorIntel, Jul 15»
4
Greece: Grimbo or Grexit?
Under both Grexit and Grimbo, the coexistence of the euro and the ND/scrip would evolve - because of Gresham's Law (bad money drives out ... «AsiaOne, Jul 15»
5
Greece's New Money Could Be Many, Not One...
... can also act as exchange-money, though the principle that bad money drives out good money (Gresham's law) holds that people will hoard ... «Daily Reckoning, Jul 15»
6
Greece's New Money: Many, Not One?
... can also act as exchange-money, though the principle that bad money drives out good money (Gresham's law) holds that people will hoard ... «Investing.com, Jul 15»
7
Ancient Greek Economics Being Proved In Modern Greece …
I refer to the manner in which Gresham's Law is already being proven in Greece. The banks have only been closed for a week and already ... «Forbes, Jul 15»
8
The Greek crisis
But Gresham's law would apply (bad money drives out good); people would want to hand over the IOUs as payment and hoard their remaining ... «The Economist, Jul 15»
9
FORTUNE Live Blog: Greece on the verge of default
Economists would dearly love this option because it's not everyday you get to Gresham's Law in action. The law, first formulated by a treasurer ... «Fortune, Jun 15»
10
Referendum opens path to freedom
Indeed all the old euros may disappear, as under Gresham's Law. People will use ND/EDs for daily non-durable purchases. For higher value ... «IFR Asia, Jun 15»

REFERENCE
« EDUCALINGO. Gresham's law [online]. Available <https://educalingo.com/en/dic-en/greshams-law>. Apr 2024 ».
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