Gresham's Law and AJ Nock

It's Gresham's Law again.  Bad money drives out good money.  More and more, Gresham explains trends.  American philosopher A.J. Nock, in his autobiography noted how the second and third rate drive out the first rate.  The first launch the venture.  The second see it working and flock to it.  In the process the second drive out the first who had the gifts to launch it in the first place.  The result is atrophy - and driving out the first rate.  We are living this again, and again, and again.  The fake faculty meetings expose, document this atrophy, and, the something-for-nothing customers (students is too kind) compound the mix even further.  This is why Nock backed the free market concept, for it gave space, resources for the first-rate to move on and create something new.  The free market also lets the second and third rate collapse from their own lack of brainpower.  It makes sense to me.  Take care.