Hearth tax a baker who, to avoid chimney tax, had knocked through the wall from her oven to her neighbour's chimney. After the Glorious Revolution, the hearth tax was repealed by the newly empowered English Parliament and agreed to by the newly installed William III and Mary II in 1689, as "not only a great oppression to the poorer sort, but a badge of slavery upon the whole people, exposing every man’s house to be entered into, and searched at pleasure, by persons unknown to him." At the end of the Glorious Revolution in 1688, William III and Mary II also agreed
A Treatise on Money theory on money he asserts that investment is an "undependable drive wheel for the economy," and when no new investment can be found, the economy will begin to falter. Keynes and Hayek debated the former's theory of money. Keynes felt that Hayek was splitting hairs with him terminologically and published a public response to the Austrian's criticisms, writing, “Dr Hayek has seriously misapprehended the character of my conclusions. He thinks that my central contention is something different from what it really is”; “It is essential to that theory to deny these propositions which Dr Hayek puts in my mouth.” The