Re: OT: Death To Word, Final Word

  • From: Nicholas Clifford <clifford@xxxxxxxxxxxxxx>
  • To: xywrite@xxxxxxxxxxxxx
  • Date: Mon, 30 Apr 2012 11:17:48 -0400

On 4/30/2012 1:06 AM, flash wrote:

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Y'all,

This tiny community of die hards notwithstanding, it was XyWrite which
died, not Word. Word went on to conquer the world. Who was it said, "Bad
money drives out good"?

<MD FL>
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It's called Gresham's Law, and here's Wikipedia on the subject:
Gresham's law is named after Sir Thomas Gresham <http://en.wikipedia.org/wiki/Thomas_Gresham> (1519--1579), who was an English financier <http://en.wikipedia.org/wiki/Financier> during the Tudor dynasty <http://en.wikipedia.org/wiki/Tudor_dynasty>. However, the law had been stated forty years earlier by Nicolaus Copernicus <http://en.wikipedia.org/wiki/Nicolaus_Copernicus>. In Poland it is known as the *Copernicus-Gresham Law*. The phenomenon had been noted even earlier, in the 14th century, by Nicole Oresme <http://en.wikipedia.org/wiki/Nicole_Oresme>. This notion was developed also during the time of the Mamluk Empire. Specifically, it was developed by the Muslim jurist and historian Al-Maqrizi (1364--1442) who wrote about a particular period in the Mamluk dynasty when the rulers were simultaneously increasing the supply of a lower valued (copper) currency and hoarding the more valued (gold and silver) currencies.^[3] <http://en.wikipedia.org/wiki/Gresham%27s_law#cite_note-2> This can be found in his work titled "Study of the Monetary System." The fact of bad money being used in preference to good money is also noted by Aristophanes <http://en.wikipedia.org/wiki/Aristophanes> in his play /The Frogs <http://en.wikipedia.org/wiki/The_Frogs>/, which dates from around the end of the 5th century BC. 

But does it also apply to computer programs?

Nicholas Clifford

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