In twenty-three original essays this book reviews the course of labor economics over the more than two centuries since the publication of Adam Smith’s Wealth of Nations. It fully examines the contending theories, changing environmental contexts, evolving issues, and varied policies affecting labor’s participation in the economy.

While the intellectual framework of the book looks partly to the past—explaining the labor factor in classical and neoclassical systems—its emphasis is on contemporary problems that will figure prominently in future developments, such as the operation of internal labor markets, dispute resolution, concession bargaining, equal employment opportunity, and individual labor contracting.

America's university president extraordinaire adds a new chapter and preface to The Uses of the University, probably the most important book on the modern university ever written. This summa on higher education brings the research university into the new century.

The multiversity that Clark Kerr so presciently discovered now finds itself in an age of apprehension with few certainties. Leaders of institutions of higher learning can be either hedgehogs or foxes in the new age. Kerr gives five general points of advice on what kinds of attitudes universities should adopt. He then gives a blueprint for action for foxes, suggesting that a few hedgehogs need to be around to protect university autonomy and the public weal.