A note from Daniel

At its heart though, Gresham's law is about the consequences of asymmetry—specifically, when asymmetry isn't supposed to be there but is, like when the value of two coins is legally supposed to be equal, but people behave as if the coins have different values. Asymmetry can lead to a breakdown in trust, such as no one trusting the value of the currency they are exchanging—which is a prob-lem, because human systems run on trust.

Daniel The Great Mental Models, Volume 4, page 169 · December 29, 2024 Save to shelf
Notes like this take four seconds in Booksense. Scan the paragraph, it lands on the right page, and comes back for review later. Take your first note

More from readers of The Great Mental Models, Volume 4

More from Daniel

See their profile

Stop losing the best parts of what you read.

Booksense pushes your highlights back to you for review, so a note from page 174 is still yours a year later. Free on iOS.

Daniel on Booksense 5,999 notes 387 hours of reading