Source: Ludwig von Mises Institute
by Raushan Gross
“Gresham’s law states that bad money drives out good money. Gresham’s law goes something like this: overvalued money that has less actual value circulates in a market economy, and the undervalued money with the same face value but whose metal has more value is hoarded and thus goes away. People move the good money out of an economy for future use in better markets, while the bad money is circulated and takes over as a common economic good. What does Gresham’s law have to do with entrepreneurship, what we call the gig economy, and bad economic policy? Well, there have been recent changes in the classification of gig entrepreneurial contractors.” (06/12/24)
https://mises.org/mises-wire/how-bad-economic-policies-drive-out-good-entrepreneurs