Gresham's law is a principle that states that "bad money drives out good" and can be applied to the currency markets. It stemmed from the historical use of precious metals to manufacture coins and their subsequent value. Historically, mints manufactured coins from gold, silver, and other precious metals, which gave the coins their value. Gresham's law is evident in a modern economy with legal tender laws. In 1982, the U.S. government changed the composition of the penny to contain 97.5% zinc, which is an example of Gresham's law in action.
40cd

свернуть