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Notable Quote

"If two kinds of money of different value are current in a kingdom, the better will inevitably be hoarded or exported, and the lesser alone will remain in circulation."

— Oresme, Nicole event 1355

From Treatise on the Origin, Nature, Law, and Alterations of Money

Context: On the natural consequences of mixing debased coin with sound coin, an observation later known as Gresham's Law

Topics

trending_down Currency Debasement currency_exchange Monetary Theory monetization_on Sound Money castle Medieval Economics