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Bibliography: pages 171-176. ; This thesis is a theoretical enquiry into the financial policies of local governments in South Africa. The basic principles governing this issue are presented in Chapter Six. The theory of corporate debt capacity is drawn upon and an analogous model of local government debt capacity is presented. The Modiglian/Miller approach is adapted, and the conclusions of this model applied in the local government context. The implication is drawn that local government officials see the incurment of debt as increasing the financial riskiness of the local area, just as corporate executives see corporate debt as increasing the riskiness of the firm. It is hypothesised that local governments which are very loosely linked, politically and economically, to the people they serve will be more risk averse than fiscally or electorally sensitive governments, and will display greater reluctance to incur debt. In so doing, they will sacrifice opportunities to improve the area by favourable capital development, financed by a judicious combination of debt and current revenue. Current available data on a cross section of local governments is presented which tentatively confirms this hypothesis.

Varied programmes of research are now commonplace in, or in connection with, the military establishments of most of the larger countries of the world. In the United States, and to some extent in Canada, this is true also of the social sciences. The institutional setting of research is of peculiar interest to sociologists, particularly since rapid and extensive changes have recently been characteristic of military organizations. The main concern of this paper is, therefore, to describe and interpret some of the processes of change observed in the course of the work of the Defence Scientific Service with the Canadian Army during the past five years. A brief introduction notes the recent growth of the Army, the involvement in military affairs of large numbers of scientists, including some social scientists, and suggests the importance of the military as an area for the sociological study of work.