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This paper explores the origins of the great fortunes of the Gilded Age. It relies on two lists of millionaires published in 1892 and 1902, similar to the Forbes magazine list of the 400 richest Americans. Manufacturing, as might be expected, was the most important source of Gilded Age fortunes. Many of the millionaires, moreover, won their fortunes by exploiting the latest technology: Alfred D. Chandler's “continuous-flow production.” A more surprising finding is that wholesale and retail trade, real estate, and finance together produced more millionaires than manufacturing. Real estate and finance, moreover, were by far the most important secondary and tertiary sources of Gilded Age fortunes: entrepreneurs started in many sectors, but then expanded their fortunes mainly through investments in real estate and financial assets. Inheritance was also important, especially in older regions. The observations, moreover, come before and after the Crisis of 1893, one of the most severe financial crises of the nineteenth century. The data reveal a high degree of survival among the great fortunes, and perhaps most surprising, a high degree of survival for fortunes based on real estate.

Today, most institutional investors, practitioners, and regulators seem relatively content with the current state of the art. Although most academics and practitioners fully recognize the conceptual and technological limitations of the “state‐of‐the‐practice” models, systems, and policies, it would appear that no urgent issues remain. However, this author argues that the risk management revolution is not over, and poses some fascinating questions that remain unanswered. The author discusses some challenges that practitioners face and proposes a line of inquiry for future commentary.

This paper examines the ideas of David Hume and their importance to American public administration writing and practice. Hume’s ideas on empiricism, scepticism, and constitutionalism have indirectly, via their impact on modern philosophy, encouraged both support for and criticism of empiricist approaches in public administration. Also, Hume’s ideas on constitutionalism, because of their influence on the Founders' writings and design, provide an important legacy for the practice of public administration. The paper argues that Hume’s notion of mitigated scepticism, as well as his constitutional ideas, have continuing relevance for the study and practice of contemporary public administration. This paper examines the ideas of David Hume and their importance to American public administration writing and practice. Hume’s ideas on empiricism, scepticism, and constitutionalism have indirectly, via their impact on modern philosophy, encouraged both support for and criticism of empiricist approaches in public administration. Also, Hume’s ideas on constitutionalism, because of their influence on the Founders' writings and design, provide an important legacy for the practice of public administration. The paper argues that Hume’s notion of mitigated scepticism, as well as his constitutional ideas, have continuing relevance for the study and practice of contemporary public administration. This paper examines the ideas of David Hume and their importance to American public administration writing and practice. Hume’s ideas on empiricism, scepticism, and constitutionalism have indirectly, via their impact on modern philosophy, encouraged both support for and criticism of empiricist approaches in public administration. Also, Hume’s ideas on constitutionalism, because of their influence on the Founders' writings and design, provide an important legacy for the practice of public administration. The paper argues that Hume’s notion of mitigated scepticism, as well as his constitutional ideas, have continuing relevance for the study and practice of contemporary public administration. This paper examines the ideas of David Hume and their importance to American public administration writing and practice. Hume’s ideas on empiricism, scepticism, and constitutionalism have indirectly, via their impact on modern philosophy, encouraged both support for and criticism of empiricist approaches in public administration. Also, Hume’s ideas on constitutionalism, because of their influence on the Founders' writings and design, provide an important legacy for the practice of public administration. The paper argues that Hume’s notion of mitigated scepticism, as well as his constitutional ideas, have continuing relevance for the study and practice of contemporary public administration.

Dr Everard introduces the article in these terms: Criticisms of the church for not getting to grips with contemporary problems of technology and work will be familiar to readers of this Journal. As a church member, I think such criticisms are well‐placed. It is therefore agreeable to have been part of an ecumenical initiative, led by the Home Mission Division of the Methodist Church, which brought together some sixty scientists, technologists and others to work on some of the ethical issues of technological change. The outcome is a report SHAPING TOMORROW which takes a positive and proactive view of the future. The final chapter, CAN WE SHAPE TOMORROW? ends with the words: ‘Don't just sit there lamenting the present situation — for God's sake do something!’ Moreover, the Report says how, in terms with which many trainers will be familiar. Four key areas of change are meatily discussed: the technology of living things; energy and material resources; the age of electronics; and the social and ethical problems of work and unemployment in technological society. With help from a trade unionist, an accountant and others, David Wright (a former industrial chaplain) and I wrote the chapter on work, its relation to wealth and reward, and the Protestant work ethic. Because it is so relevant to the Phoenix Scenario, you may like to think about what we have to say. Some of you will not agree with us: that is all to the good, because contemporary theology and sociology badly needs fashioning on the anvil of rational argument, rather than set on a pedestal of dogma and ideology.

From the perspective of emergence, professors can facilitate and shape a class as a complex, adaptive, and living system. A case study illustrates phases of emergence in the classroom by tracing how a professor may use this perspective to empower students to share in the leadership of the classroom. Instead of presenting lessons, the professor facilitates emergent activity, creating a classroom structure where students practice leadership behaviors. In this classroom structure, the professor assumes the leadership roles of coach and facilitator. As a result students building the classroom culture together they connect with each other: they develop strong relationships, take initiative, and learn important lessons about leadership. This article concludes with design principles for establishing a classroom of shared leadership in any teaching environment in any subject.

This paper aims to present the viewpoint of David Wright, head of External Affairs for SELECT, the Electrical Contractors' Association of Scotland. Its purpose is to highlight the adverse impact on the electrical sector of a disconnection between the Scottish Executive's education and vocational training policies.

The paper chronicles relations between the Scottish Executive vis‐à‐vis its education and vocational training policies and Scotland's electrical sector regarding the funding (or otherwise) of apprenticeships.

The paper points out that the Executive is simultaneously promoting a rise in the number of apprenticeships and a rise in the number of pupils staying on longer at school. The paper found that this contradiction has arisen largely as a consequence of the Westminster decision to fund apprenticeships for all 16‐18 year‐olds rather than provide social security payments for anyone unemployed within that age group, while the Executive is simultaneously encouraging 16‐18 year‐olds to stay on at school by funding them to do so. It found that an 18 year‐old leaving school seeking to embark on an apprenticeship will be unlikely to receive any funding, while a 16 year‐old will be guaranteed funding.

The paper covers SELECT's support for the policy promoted by the Scottish Parliament's Enterprise and Culture Committee for lifelong learning through the creation of individual learning accounts, whereby funding for vocational training is available to individuals of any age rather than restricted to narrow age parameters. It calls for funding programmes which recognise the practical consequences of the government's policies and which will enable people in their late teens and early 20s – and older – to train or retrain as apprentices.

This paper is of value to policymakers, employees, school pupils and apprentices.

A review of the relevant literature and case study analysis draws the conclusion that a skills approach to leadership makes it possible to describe and provide training in the core skills required in a wide variety of managerial situations. Such skills are most effectively acquired through practice, with feedback and guidance provided by skilled interpersonal skilled tutors. The latter skills are also best learned via feedback and guidance; unless there is a growth in effective interpersonal skills training there will ultimately be a shortage of tutors to pass on the skills learned.

ntroducing computerised working scheduling systems into a “not‐for‐ation, addressed by means of a case study based in a high security mental rise to four recommendations: that line authority is required; an “agent needed to push through the momentum of change; collaboration has ed; and because of inertia within the system, change is best implemented ground of crisis or turbulent conditions.