bad money drives out good
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English[edit]
Etymology[edit]
Traditional sentiment, both in literal and metaphorical sense, dating to ancient works such as Aristophanes' The Frogs, and appearing in various forms in various Islamic and European medieval texts.[1]
Proverb[edit]
- Debased coinage (with low levels of precious metals) replaces purer coinage (with higher levels of precious metals).
- People hoard good currency and other assets and attempt to pass inferior currency and assets to others in exchange.
- (figurative, in organizations and labor markets) Overvalued mediocre talent replaces undervalued real talent.
Translations[edit]
debased coinage replaces purer coinage
|
mediocre talent drives away real talent
See also[edit]
References[edit]
- ^ Selgin, G., University of Georgia (2003). Gresham's Law.