AI, Bitcoin and Gresham's Law
Absent government coercive controls, people and markets in general will always prefer to use hard rather than soft money. In situations of freedom, the strong money “drives out” the soft money.
Guilherme Bandeira a PhD in philosophy and legal theory from the University of São Paulo (USP), an LL.M in Legal Theory from New York University (NYU), a bachelor's degree in law from Fundação Getúlio Vargas (FGV) and a B.S. in philosophy at the University of São Paulo (USP).
Absent government coercive controls, people and markets in general will always prefer to use hard rather than soft money. In situations of freedom, the strong money “drives out” the soft money.
William Harvey demonstrated the mechanism of blood circulation in the 1620s, demolishing ancient and medieval knowledge about the body’s humors.
'Money is gold, everything else is credit' John Pierpont Morgan in 1912.