The story
Named after English merchant and financier Thomas Gresham (1519–1579) by Scottish economist and lawyer Henry Dunning Macleod in 1858.
Etymology from Wiktionary, CC BY-SA 4.0.
Gresham's law
Today it means: A principle stating that when a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation. Full definition →