Gresham′s law in audiology field

Abstract

Introduction: Gresham's law says bad money drives out bad money out of circulation. Need for the study: In context of audiological practice Gresham's law would state that with advent of more recent and costlier versions of test procedures and management options for the hearing loss, the older and cheaper ones would be replaced. This is not desirable in a developing country like India. Aim of the study: Gresham's Law says Bad money drives out the good money out of circulation. The aim of the study was to study the current trend practised by the audiologists in India and to examine whether Gresham's law is manifesting in the same. Methods: Two groups were taken. Group A (N1 = 42) consisted of practising audiologists, and group B (N2 = 26) consisted of audiologists in academic staff position. The survey questionnaire consisted of questions about the audiological practices with ten point Lickerts scale. Results: Essentiality of certain newer versions of assessment and management were rated higher by practicing audiologists than staff heads and professionals in academic field. Conclusion: The study revealed the rising trend amongst audiologists to use more updated versions in the assessment as well as intervention as against use of older, low cost versions of assessment and management options suggesting manifestation of Gresham's Law in audiological practice. Implication: The working audiologists should be cautious against following the protocol blindly and they should apply their acumen using readily available equipments and not rely heavily only on latest equipments especially in developing country like India.