Named for a 16th century English merchant, FTP, name this economic law which states that bad money drives good money out of circulation.
Joseph Schumpeter referred to it as "trivial," and its application in early 19th century Canadian history can be seen to falsify the Staple Theory.  The first form of this principle was stated by Theognis in his Maxims.  The first person to call this idea by its current name was Henry Dunning Macleod, while a medieval discussion of it can be found in a treatise by Nicholas Oresme (oh-rem).  Rolnick and Weber argue that the reverse of this idea is demonstrable in countries with weak economies, especially if the use of paper currency is declared illegal.  In order for it to apply in modern cases, legal tender laws must establish that fiat money is equally valid, in which case the buyet will offer it in place of commodity money.  Named for a 16th century English merchant, FTP, name this economic law which states that bad money drives good money out of circulation.
Joseph Schumpeter referred to it as "trivial," and its application in early 19th century Canadian history can be seen to falsify the Staple Theory.  
Gresham's Law