My real purpose here is to talk about Gresham’s Law, one of the most ancient and impactful principles of modern human society. It hasn’t been taught in college classrooms since the socialist takeover of American education and government about a century ago, but it is the most impactful determinant of socio-economic events, global geopolitics, and the book of history.

Gresham’s Law goes by the adage “bad money drives out good money” with the anti-capitalist ring to it that competition drives out “good money” and promotes the use of “bad money,” implying a race to the bottom is a result of capitalism.