Editors' Introduction.

The article reflects on the contents of the May 1980 issue of the 'American Economic Review.' The papers and proceedings of the ninety-second annual meeting of the American Economic Association have been presented in the issue. It includes Sixty-six papers and twenty five discussions that are roughly equivalent in space to two regular issues of the American Economic Review. The business activities of the Association in 1979: the annual membership meeting; the March and December meetings of the executive committee; and reports of the Association's officers and committees have been included under the proceedings.