Perhaps the most significant thing about the business man in folklore is that he is far from an important figure in it. From this we may deduce that among those people who have created what we call folklore the business man has either not played an important rôle or his function and contribution have not been understood. He is not, however, altogether missing; we might not recognize him, since he is a remote and shadowy figure compared with the business man as we think of him today. But he is there, and the very form and circumstances in which he appears have meaning.

It is with regret that the Bulletin notes the recent closing of the Industrial Museum of the American Steel and Wire Company at Worcester, Massachusetts.

The current importance of labor administration in business highlights the need for a better understanding of the historical background of the relations of business and labor. No part of American history has been more inadequately handled. Three aspects of the history of labor have been emphasized above everything else: labor organization, the conflict of labor and employer, and “exploitation” of labor by business. This approach has tended to engender conflict rather than to promote understanding.