Taken from a series of conferences, this collection of papers by leading labour experts from the United States and the former Soviet Union examines the profound changes in industrial systems and work organisation currently affecting both societies. The authors focus on the emergence of new labour market institutions, the evolution of managerial philosophy, changes in workers’ values and attitudes toward economic security, economic inequality, and the legitimacy of worker participation in management and ownership. Comparison reveals both striking differences and similarities in the transformation of the two systems in the post-industrial age, and helps demystify some simplistic notions about the workings of market systems.