Wednesday 25 April 2018

Brendan Keenan: In this crisis the bad stuff is driving out the good

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.

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