Walter Reid was Professor of Financial Control at the London Business School from 1973 to 1988. He was subsequently Chairman of Management Development Associates Limited (MDA), a management training consultancy with a primary focus on financial management. D.R. Myddelton has been Professor of Finance and Accounting at the Cranfield School of Management since 1972. He has written books on tax reform, inflation accounting and accounting standards and textbooks on accounting, economics, and financial management. He is Chairman of the Trustees of the Institute of Economic Affairs.