Intro -- TABLE OF CONTENTS -- ACKNOWLEDGMENTS -- CHAPTER I-INTRODUCTION -- 1. Canonization -- 2. Uses of Refutation -- 3. A Path-Breaking Pioneer? -- 4. The "General" Theory -- CHAPTER II-POSTULATES OF KEYNESIAN ECONOMICS -- 1. What Is the Classical Theory of Employment? -- 2. Wage-Rates and Unemployment -- 3. No "General Level" of Wage-rates -- 4. "Non-Euclidean" Economics -- CHAPTER III-KEYNES VS. SAY'S LAW -- 1. Keynes's "Greatest Achievement" -- 2. Ricardo's Statement -- 3. The Answer of Haberler -- 4. To Save Is to Spend -- CHAPTER IV-OVERTURE -- 1. "Effective Demand" -- 2. The Propensity to Consume -- 3. Derision of Thrift -- CHAPTER V-"LABOR UNITS" AND "WAGE UNITS" -- CHAPTER VI-THE ROLE OF EXPECTATIONS -- CHAPTER VII-"STATICS" VS. "DYNAMICS" -- Appendix on "User Cost" -- CHAPTER VIII-INCOME, SAVING, AND INVESTMENT -- 1. Confusing Definitions -- 2. Why "Savings" Equals "Investment" -- 3. Saving as the Villain -- 4. Keynesian Paradoxes -- 5. Can Savings be Printed? -- CHAPTER IX-"THE PROPENSITY TO CONSUME": I -- 1. Digression on Mathematical Economics -- 2. The "Fundamental Psychological Law" -- 3. Ambiguity of the "Consumption Function" -- 4. The Meaning of "Saving" -- 5. The Sinking-Fund Bogey -- 6. In a Nutshell -- CHAPTER X-"THE PROPENSITY TO CONSUME": II -- 1. Reasons for Not Spending -- 2. The Fear of Thrift -- CHAPTER XI-"THE MULTIPLIER" -- 1. The Magic of It -- 2. Not Fixed or Predictable -- 3. "Saving" and "Investment" Again -- 4. "Investment" Means Government Spending -- 5. Paradox and Pyramids -- CHAPTER XII-"THE MARGINAL EFFICIENCY OF CAPITAL" -- 1. Slippery Terms -- 2. Interest Rates Embody Expectations -- 3. Effects of Expected Inflation -- 4. Does Lending Double the Risk? -- 5. Confusions About "Statics" and "Dynamics" -- CHAPTER XIII-EXPECTATION AND SPECULATION -- 1. The State of Confidence.

2. Fictions About the Stock Market -- 3. Gambling, Speculation, Enterprise -- CHAPTER XIV-"LIQUIDITY PREFERENCE" -- 1. No "Liquidity" Without Saving -- 2. Money is a Productive Asset -- 3. Interest Is Not Purely Monetary -- CHAPTER XV-THE THEORY OF INTEREST -- 1. An "Unsettled Problem" -- 2. Productivity Theories -- 3. Time-Preference Theories -- 4. Combined Interest Theories -- 5. Real Plus Monetary Factors -- CHAPTER XVI-CONFUSIONS ABOUT CAPITAL -- 1. On Going Without Dinner -- 2. Saving, Investment, and Money Supply -- 3. Roundabout Production -- 4. Abundance Unlimited -- CHAPTER XVII-"OWN RATES OF INTEREST" -- 1. Speculative Anticipations are not "Interest" -- 2. Impossible Miracles -- 3. Ought Wages to be Rigid? -- 4. We Owe Our Lives to Saving -- 5. Keynes vs. Wicksell -- 6. "Equilibrium" of an Ice Cube -- CHAPTER XVIII-THE GENERAL THEORY RESTATED -- 1. Economic Interrelationships -- 2. "Stable" Unemployment -- 3. The Demand for Labor is Elastic -- 4. Stabilize Wage-Rates-or Employment? -- CHAPTER XIX-UNEMPLOYMENT AND WAGE-RATES -- 1. Unemployment is Caused by Excessive Wage-Rates -- 2. Wage-Rates Are Not Wage Income -- 3. "Elasticity" of Demand for Labor -- 4. Fallacies of "Aggregative" Economics -- 5. The Attack on Flexible Wage-Rates -- 6. Inflation vs. Piecemeal Adjustment -- 7. A Class Theory of Unemployment -- CHAPTER XX-EMPLOYMENT, MONEY, AND PRICES -- 1. An Unproved "Functional" Relationship -- 2. General Value Theory vs. Monetary Theory -- CHAPTER XXI-PRICES AND MONEY] -- 1. "Costs" are Prices -- 2. The Positive Theory of Money -- 3. What Theory of Prices? -- 4. Another Digression on "Mathematical" Economics -- 5. "Elasticity" of Demand Cannot be Measured -- 6. Sacrosanct Wage-Rates, Sinful Interest Rates -- 7. Monetary Inflation Preferred to Wage Adjustment -- 8. Those Arbitrary Moneylenders -- CHAPTER XXII-THE "TRADE CYCLE".

1. A "Sudden Collapse" of the "Marginal Efficiency of Capital"? -- 2. When Governments Control Investment -- 3. The Life of Durable Assets -- 4. A Policy of Perpetual Inflation -- 5. More Carts Before Horses -- 6. Sun-Spots Before the Eyes -- CHAPTER XXIII-RETURN TO MERCANTILISM? -- 1. "Let Goods be Homespun" -- 2. Running Comment on Running Comments -- 3. Wise Mercantilists, Stupid Economists -- 4. The Religion of Governmental Controls -- 5. Canonization of the Cranks -- 6. Mandeville, Malthus, and the Misers -- 7. The Contribution of Mill -- 8. J. A. Hobson and Major Douglas -- CHAPTER XXIV-KEYNES LETS HIMSELF GO -- 1. Inequalities of Income -- 2. The Euthanasia of the Rentier -- 3. Robbing the Productive -- 4. The Socialization of Investment -- 5. The "Economic Causes of War" -- 6. The Power of Ideas -- CHAPTER XXV-DID KEYNES RECANT? -- 1. "The Classical Medicine" -- 2. The Underlying Contradictions -- CHAPTER XXVI-"FULL EMPLOYMENT" AS THE GOAL -- 1. Is It Definable? -- 2. Is It Attainable? -- 3. Is It Unconditionally Desirable? -- CHAPTER XXVII-"THE NATIONAL INCOME APPROACH" -- 1. Is National Income Determinate? -- 2. Its Dangers for Policy -- CHAPTER XXVIII-THE KEYNESIAN POLICIES -- 1. Do Deficits Cure Unemployment? -- 2. Does Cheap Money Cure Unemployment? -- 3. Race with the Printing Press -- CHAPTER XXIX-SUMMARY -- A NOTE ON BOOKS -- APPENDIX A-THE 1919 PROPHECIES -- APPENDIX B -AMERICAN ICE CO. -- APPENDIX C -COMPARISONS OF MARKET PRICES OF SOUTHERN RAILWAY CO. DEFERRED ORDINARY SHARES -- APPENDIX D-INTEREST RATES AND BUSINESS CYCLES.