Gresham's law noun phr. ['grɛʃ(ǝ)mz lɔ:] M19.[Sir Thomas Gresham (d. 1579), English financier and founder of the Royal Exchange.]Economics. The tendency for money of lower intrinsic value to circulate more freely than money of higher intrinsic and equal nominal value.
[TahlilGaran] English Dictionary ▲