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.
Token Money refers to money for which the face value is unrelated to the value of the material it is made from. It predominantly exists in physical form as notes and coins and electronically as computer entries.
A comprehensive examination of inconvertible money, currency that cannot be exchanged for precious metals or other commodities. This entry explores its characteristics, historical context, and modern implications.
An in-depth look at the methods and systems through which a government ensures the value and reliability of its currency.
