Medium of exchange was observed as early as Oresme, Copernicus and then in 1558 by Sir Thomas Gresham, that bad money drives out good in any marketplace (Gresham's Law states "Where legal tender laws exist, bad money drives out good money"). A more precise definition is this: "A currency that is artificially overvalued by law will drive out of circulation a currency that is artificially undervalued by that law." Gresham's law is therefore a specific application of the general law of price controls. A common explanation is that people will always keep the less adultered, less clipped, sweated, less filed, less trimmed coin,
Bad for Good Bad for Good Bad for Good is a 1981 album by American songwriter Jim Steinman. Steinman wrote all of the songs and performed on most, although Rory Dodd contributed lead vocals on some tracks. The songs were originally intended to be recorded by Meat Loaf as a follow up to "Bat Out of Hell", titled "Renegade Angel". However, Meat Loaf suffered vocal problems and was unable to sing. He would record several tracks from "Bad for Good" for his later albums. The critical reaction to the album was mixed. Many reviews commented that Steinman's singing voice was inadequate for the