bad money drives out good
- Commonly known as Gresham’s Law, after Sir Thomas Gresham (c 1519–79), founder of the Royal Exchange. Gresham saw the economic need to restore the purity of the coinage, though there is no evidence that he actually used this expression. Quot. 1902 states that the principle, not the proverb, is mentioned in Gresham’s letter to the Queen. (1858 H. D. MACLEOD Elements of Political Economy 477 He [Gresham] was the first to perceive that a bad and debased currency is the cause of the disappearance of the good money.)
1902 New English Dictionary VI. 116 Gresham’s law, the principle, involved in Sir Thomas Gresham’s letter to Q. Elizabeth in 1558, that ‘bad money drives out good’.
1933 A. HUXLEY Letter 18 Nov. (1969) 438 Gresham’s Law holds good in every field..and bad politics tends to drive out good politics just as bad money drives out good money.
1982 R. NISBET Prejudices 178 Genuine scholars receive grants too, but this misses the crucial point, which is that bad money drives out good, and that only a few years of such handouts to putterers will be enough to convince the American people that Everyman is a humanist.
2002 Times 212 June 5 In potatoes as in currency, Gresham’s law applies: bad drives out good. The new new, in potatoes, is old.
Proverbs new dictionary.
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money — moneyless, adj. /mun ee/, n., pl. moneys, monies, adj. n. 1. any circulating medium of exchange, including coins, paper money, and demand deposits. 2. See paper money. 3. gold, silver, or other metal in pieces of convenient form stamped by public … Universalium
good — see if you can’t be good, be careful a good beginning makes a good ending there’s many a good cock come out of a tattered bag no good deed goes unpunished he is a good dog who goes to church the good die young … Proverbs new dictionary
money — I (New American Roget s College Thesaurus) Medium of exchange Nouns 1. money, finance, funds, treasure, capital, assets; ways and means, wherewithal; money matters, economics, the dismal science; resources, backing (see means); purse strings.… … English dictionary for students
bad — see a bad excuse is better than none bad money drives out good bad news travels fast a bad penny always turns up bad things come in threes there is no such thing as bad weather, only the wrong clothes … Proverbs new dictionary
good — I. adjective (better; best) Etymology: Middle English, from Old English gōd; akin to Old High German guot good, Middle High German gatern to unite, Sanskrit gadhya what one clings to Date: before 12th century 1. a. (1) of a favorable character or … New Collegiate Dictionary
money — see money can’t buy happiness money has no smell money isn’t everything money is power money is the root of all evil money, like manure, does no good till it is spread … Proverbs new dictionary
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