Brendan Keenan: In this crisis the bad stuff is driving out the good
Published 20/10/2011 | 05:00
EVERYONE knows -- well, everyone should know -- that the monk Nicolaus Copernicus demonstrated that the earth goes round the sun, rather than vice versa.
Not many people -- certainly not me -- know that he also showed how "bad money drives out good".
A man of many parts. This proposition, as applied to precious metal coinage, is generally attributed to Sir Henry Gresham, an adviser to Queen Elizabeth I.