Mental Model: The Law of Competing Standards (Gresham's Law)

Basic Idea - what gets rewarded gets repeated, regardless of any ethical considerations.  Specifically “bad money drives out good” History - named after Sir Thomas Gresham, an English Merchant in the 1500s.  Also attributed to Copernicus and Aristophanes. Gresham stated that, in a system with fake coinage, the fake coinage will drive out the real coinage in circulation.  People keep what is valuable and spend what is not. Instagram: @stockstoryteller [email protected]