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In a perfectly operating labour market, one of perfect competition and information and unfettered labour mobility, labour flows in the direction of the highest price employers are willing to pay; as labour becomes scarce in the sending area and plentiful in the receiving area, the price of that labour, wages, tend to equalise.

The past 40 years have been increasingly spent applying the entire range of the sciences worldwide to finding solutions to society′s problems, both technological and economic. It is argued that the result is a two‐tier workforce – the first relatively secure and independent by virtue of its ability to accommodate to the new knowledge, the second lacking the first′s advantages and dependent on it. It is claimed that the incomes of those in the second tier in the US have been falling, and that the children of families from this tier are likely to find themselves being even less advantaged in the future as they become the workers of tomorrow.

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

Vocational and technical training have long been critical elements of skill development. An emerging realisation is that such training js an integral element of economic development of a nation, a region, a city, or a local community. In manpower terms, vocational‐technical training is the means for developing a competitive workforce that is continuously being restocked by renewing its skills and readying new entrants for competitive employment.

At the moment of their greatest political triumph in a quarter of a century, business management is under fire for losing leadership in world commerce and trade. Ascendancy to the U.S. presidency of a person with a strong business orientation is in no small part due to the electorate's belief that business people can bring efficiency and economy to government. Simultaneously, however, these business people are being charged with failing to anticipate the changing nature of world competition and the massive disruption of consumer purchasing patterns by the oil producing nations, failing to make their products competitive in price and quality, and contributing to declining productivity by letting research and development lag and by managing the nation's workforce poorly.

Recognising that strategic planning decisions hold important implications for the personnel function, practitioners, consultants and academics have begun to look for a way to relate the personnel function more closely to the strategic management of the business. One solution which has attracted a great deal of attention is the concept of strategic human resources planning.

Foreign competition has made the US steel and automobile industries effect decentralization operations to the middle south and west — to rural, low‐paid, non‐unionized labor, and thus maximising profits and increasing management control. All this has led to a reruralization of the US workforce and by selling off operations, profit levels can be enhanced.

Since the first Volume of this Bibliography there has been an explosion of literature in all the main areas of business. The researcher and librarian have to be able to uncover specific articles devoted to certain topics. This Bibliography is designed to help. Volume III, in addition to the annotated list of articles as the two previous volumes, contains further features to help the reader. Each entry within has been indexed according to the Fifth Edition of the SCIMP/SCAMP Thesaurus and thus provides a full subject index to facilitate rapid information retrieval. Each article has its own unique number and this is used in both the subject and author index. The first Volume of the Bibliography covered seven journals published by MCB University Press. This Volume now indexes 25 journals, indicating the greater depth, coverage and expansion of the subject areas concerned.

With this number the Library Review enters on its ninth year, and we send greetings to readers at home and abroad. Though the magazine was started just about the time when the depression struck the world, its success was immediate, and we are glad to say that its circulation has increased steadily every year. This is an eminently satisfactory claim to be able to make considering the times through which we have passed.

In 1933, Lionel Robbins asked Frank Knight if he could republish Knight’s Risk, Uncertainty and Profit (RUP) in order for students at the London School of Economics to continue to have access to the book. He also asked Knight to write a preface to provide an update on Knight’s changing economic views. Between 1933 and 1957, Knight wrote four new prefaces for reprint editions of RUP outlining changes in his views. In the prefaces, he identified four aspects of the theory expounded in RUP that he came to reject: (a) the method of successive approximation; (b) the separation of production from distribution; (c) the tri-partite division of the factors of production; and (d) any notion of a period of production. These rejections placed him squarely in opposition to F. A. Hayek’s theoretical work. He also identified the key features he had sought to develop in a monetary theory that would oppose J. M. Keynes and John Hicks. At the same time, he sought to identify the new theoretical ideas he was developing, including an enterprise-based theory of market exchange, and the adoption of a unitary resource, called capital. He also pointed to the work in social philosophy that he had begun in the 1940s, especially the need for a combined approach to social science using economic theory, ethics and social philosophy. The prefaces came to serve as a bridge between Knight’s original theory and what he would argue at the conclusion of his career.