Debasement

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August 31, 2024 4 min read Definitions
Gresham's Law: The Observation that 'Bad Money Drives Out Good'
Economics Finance Gresham's Law Bad Money Good Money Debasement Fiat Currency
Gresham's Law is the observation that 'bad money drives out good', based on the idea that consumers prefer to spend debased currency and hoard valuable currency. This concept is still relevant in the age of fiat money.
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