Bulky words drive out short, simple, clear ones
Aug 6, 2013
In 16th-century England, Thomas Gresham formulated what is now known as Gresham’s law, which stipulates that bad money drives out good. Paper money tends to circulate more freely than silver, and silver more freely than gold, because people hoard whatever type of money is seen as best. It’s why we spend those torn dollar bills first. I have no problem with this. It might even be a good thing, because it expands the money supply and credit. But I do have a problem when a similar dynamic takes ove