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Aristophane on Gresham’s law

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From the Archives : Originally published November 09th, 2009
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Category : Fundamental





"Oftentimes have we reflected on a similar abuse
In the choice of men for office, and of coins for common use;
For your old and standard pieces, valued and approved and tried,
Here among the Grecian nations, and in all the world beside,
Recognized in every realm for trusty stamp and pure assay,
Are rejected and abandoned for the trash of yesterday;
For a vile, adulterate issue, drossy, counterfeit and base,
Which the traffic of the city passes current in their place!"



ARISTOPHANES, "Frogs," 891-898, Frere's Translation



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