THE annual report of the National Institute of Economic and Social Research for 1945–46 welcomes the recommendations of the Clapham Committee and particularly the declaration in that Report as to the national importance of the realistic studies to which the Institute has consistently devoted itself. Commenting on the new approach to economic problems illustrated by the elaboration of national income studies, the Institute's report points out that in Britain, in spite of sharp disagreement about particular methods and policies, there is a considerable, measure of agreement about the ultimate goals of economic and social policy and the intellectual terms, in which these problems may most profitably be set out, discussed and investigated. Moreover, the Institute has been able, through its Occasional Paper No. X, “A System of National Book-keeping: Illustrated by the Experience of the Netherlands Economy”, by Prof. J. B. D. Derkson, to make available to English readers some of the basic researches behind developments in economic planning in Holland, and it has also provided a meeting-place for the discussion of technical aspects of such problems between official representatives from Norway and Sweden and those engaged in similar work in Britain.