Synopsis By: Dissen - Proceeding Author: W. Willard Wirtz

In his third address to the Academy, Wirtz summarizes the problems of the railroad industry, illustrating why private institutions must take public interests into account. The advent of new conflict areas, including race and age differences, requires a broader concept of arbitration and suggests a need to devise new dispute resolution procedures. The public interest should inform arbitration and mediation of new contract terms.