Marginal Revolution: General Theory, chapters one and two

I see three main themes in the book as a whole:

1. Income effects are more important than substitution effects.

2. Expectations matter.

3. The private and social returns to liquidity are very different.

#1 (as applied to macro) and #3 were most original in his time.  The book as a whole circles around these themes and repeats them in varying combinations, not always coherently or consistently.  You could also add the claims that 4. monetary factors render a "natural rate of interest" problematic and 5. labor markets are special.  Chapter two is essentially about #1 and #5.

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