In Chapter 5, Keynes establishes the role of the expectations of the entrepreneurial firm, and how this informs strategy of employment and investment in capital equipment. Instead of assuming that employment volume is straightforwardly determined by aggregate demand manifest as proceeds for entrepreneurs (both as propensity to consume and as savings/investment), aggregate demand offers a signal to inform the expectations set and acted on by entrepreneurs, and these expectations then, in turn, play a determining role in employment volume.