TIL in 1526, Copernicus wrote a study on the value of money, “Monetae cudendae ratio”. In it he formulated an early iteration of the theory, now called Gresham’s law, that “bad” (debased) coinage drives “good” (un-debased) coinage out of circulation.

submitted by /u/electricmaster23
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *