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 After the Glorious Revolution, the hearth tax was repealed by the newly empowered English Parliament and agreed to by the newly installed William III and Mary II in 1689, as "not only a great oppression to the poorer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 A Treatise on Money A Treatise on Money is a work on economics by English economist John Maynard Keynes. In the "Treatise" Keynes drew a distinction between savings and investment, arguing that where saving exceeded investment, recession would occur. Thus, Keynes reasoned that during a depression the best course of action would be to promote spending and to discourage saving. Keynes most notably clarified his Theory of Money in catty dialog with other famous economists of the day, such as Friedrich Hayek and Dennis Robertson. Keynes described his rejoinder as such “in my Rejoinder to Mr. D. H. Robertson, Published