A formulation attributed to Sir Thomas Gresham, an English merchant and financial businessman in the 16th century. According to the law, in a monetary system with currencies of different value, the more valuable will gradually disappear from circulation (the “bad” currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More drives out the “good” currency).