Pronunciation: [ɡɹˈɛʃəm] (IPA) 
The spelling of the word "Gresham" is straightforward once you know the pronunciation. It is pronounced /ˈɡrɛʃəm/ with the stress on the first syllable. The "sh" sound is represented by "sh" and the "e" sound in the second syllable is spelled with an "e" rather than an "a" that might be expected from the spelling of the name. Gresham is also the name of a town in Oregon, USA, as well as a college in London, UK.
Gresham is a term used to describe an economic phenomenon known as Gresham's Law, named after Sir Thomas Gresham, an English financier and advisor to Queen Elizabeth I. Gresham's Law states that "bad money drives out good money" in a given economy. In other words, when two forms of currency, one debased and of lower quality than the other, circulate simultaneously, the inferior currency tends to displace the superior currency from circulation.
This phenomenon occurs because individuals prefer to hoard or use the higher quality currency while simultaneously spending or passing on the lower quality currency. The result is that the inferior currency becomes the dominant form of exchange, as people willingly part with it, while keeping the better currency for themselves.
Gresham's Law is based on the basic economic principle that people seek to maximize their own self-interest. In the context of currency, individuals naturally prefer to hold or use the currency that retains its value over time. As a result, when faced with the choice between two currencies of different qualities, people will choose to keep the superior currency for themselves and circulate the lesser currency to others.
Gresham's Law has been observed throughout history in various economies and has important implications for monetary policy and the overall stability of a currency system. Policymakers need to be aware of the potential impact of Gresham's Law and take measures to ensure the stability and integrity of a country's currency.
