Published between 1965 and 1985 the papers in this collection address the problem of using accounting data to estimate the economic rate of return. The search for a solution to this problem has been an important episode in the history of accounting thought. The papers reprinted in this volume are the foundation of this intellectual effort. Ten articles and six notes and comments are reprinted here. Seven of the papers were published in UK journals and the rest in US publications. Bringing them together in one book will facilitate research on this important subject.