Gresham's law of news. Gregory Bateson postulated an analogue to Gresham's Law operating in cultural evolution, in which "the oversimplified ideas will always displace the sophisticated and the vulgar and hateful will always displace the beautiful. And yet the beautiful persists." Gresham's law has been cited as "Silver currency will inevitably force gold currency out of circulation" (L. Pyenson, Servants of Nature (W.W. Norton, 1999) p. 21); this suggests a fundamental misinterpretation, cf. Mundell (above). Gresham's law In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money
Good Bad Books and Kenneth McLeish, in which the authors critique a range of "bad good" books, generally thought to be "good books". Good Bad Books "Good Bad Books" is an essay by George Orwell first published in "Tribune" on 2 November 1945. After Orwell's death, the essay was republished in "Shooting an Elephant and Other Essays" (1950). The essay examines the lasting popularity of works not usually considered great literature. Orwell defines a "good bad book" as "the kind of book that has no literary pretensions but which remains readable when more serious productions have perished." Orwell concludes: "I would back "Uncle