Gresham's law the creditor must accept such money at face value. Nobel Prize winner Robert Mundell believes that Gresham's Law could be more accurately rendered, taking care of the reverse, if it were expressed as "Bad money drives out good "if they exchange for the same price"." The reverse of Gresham's Law, that good money drives out bad money whenever the bad money becomes nearly worthless, has been named "Thiers' law" by economist Peter Bernholz in honor of French politician and historian Adolphe Thiers. "Thiers' Law will only operate later [in the inflation] when the increase of the new flexible exchange rate
Alexander and the Terrible, Horrible, No Good, Very Bad Day Alexander says tomorrow things must not get any worse. On Saturday, January 13, 1990, the book was adapted into a 30-minute animated musical television special that was produced by Klasky Csupo and aired on HBO in the United States. While the special is mostly true to the book, the following differences are: This special features 12 more bad things for Alexander: The special also includes 4 good things to show the audience that even a bad day can have something good in it: Although mentioned, the three following bad things are not shown in the special: The special also included