Gresham's law is a work that examines this problem in more detail. Some also use an explanation of Gresham's Law as "The more efficient you become, the less effective you get"; i.e. "when you try to go on the cheap, you will stop selling" or "the less you invest in your non-tangible services, the fewer sales you will get." Vice President Spiro Agnew used Gresham's law in describing American news media, stating that "Bad news drives out good news," although his argument was closer to that of a race to the bottom for higher ratings rather than over and undervaluing certain kinds
Economic law Economic law In the legal system of the Soviet Union, economic law was the legal theory and system under which economic relations were a legal discipline independent of criminal law and civil law. In the Law of the United States and some other legal systems this approximately corresponds to the commercial law (business law). In the Soviet legal system, the purpose of the economic law is to regulate the relations arising from the economic activities. The theory of the independence of the economic law was pursued after the 21st Congress of the CPSU of 1959, with the principal proponent being