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Members of the Austrian school held particular views on capital. In this essay the development of Austrian theorising on capital is assessed and contrasted with what has been presented as the Neoclassical view. So far as this subject is concerned it was Böhm‐Bawerk, among the older members of the Austrian school, who became widely known as the main contributor (partly because some of his work was translated early).

The question of whether at present Smith is of any importance for economic analysis is dealt with. The attempts of a number of authors to reach a new interpretation of Smith are examined. The emphasis is on the argument on which the decision to come to a reorientation on Smith would be based. Reasons are given for why the current Smith interpretation might be disqualified as an anachronism. Finally, on the basis of a number of specific passages from The Wealth of Nations, there is a particularisation in the questions one might justly ask regarding the current interpretation of Smith′s economic thought.

It is demonstrated that the Austrian school in economics had very different ideas about the creation and change of social institutions and especially about the relation of state and market, which is still one of the fundamental problems of economic theory. Menger′s fundamental distinction of pragmatic and organic institutions and Wieser′s contrary model are discussed, followed by the “impossibility theorem” of Mises and the contrary position of Schumpeter. Hayek′s liberation model of society is presented and criticised, and finally Menger′s position is interpreted as one of moderate liberal interventionism.

If ethical or legal mandates have failed to compel organizations to manage diversity in meaningful ways, competition has emerged as the new impetus to do so. A recent cover story in Nation's Business by Sharon Nelton, “Winning with Diversity,” outlines successful business experiences with a diverse workforce that responds more effectively to developments in the marketplace. Nelton reports that a 1992 survey of 578 companies indicated that over one‐third of the organizations polled felt that employees with multicultural communication skills were necessary for doing business in other nations and communicating with a diverse workforce.

This bibliography is intended as a guide for librarians, scholars, students, and interested amateurs. It suggests what books or media would be an invaluable starting collection to understanding the Arthurian legend, which has been over a millennium in the making.

Utilises recent advances in the evolutionary theories of the firm to analyse the competitive strategies of small Chinese family firms in Asian latecomer economies such as Hong Kong, Taiwan and Nangyang. Begins with an examination of the distinctive features of a Chinese family firm. Argues that the unique features of these establishments form firms’ resource bases and contribute to their competitive advantages. The two notable competitive advantages are: the capability to maintain a high degree of flexibility; and reducing transaction costs. These arguments are analysed from two aspects: first, the organisational structure and internal communication methods (internal capabilities), and second, the subcontracting networks (external capabilities). Furthermore, given the organisational structure and the resource bases, most Chinese family firms choose not to upgrade their technological bases within global competition. Rather, they tend to pursue guerrilla entrepreneurship, imitative follower‐my‐leader and specialise in international co‐ordination. These strategies enable them to compete and survive in the world market.