Guest editor's introduction.

The papers in this and the next numbers of the Australian Bulletin of Labour are developed from selected presentations made to the conference, 'Transitions and Risks: New Directions of Social Policy', Melbourne, February 2005, organised by the University of Melbourne Centre for Public Policy, as part of a collaborative ARC Linkage Grant involving University of Melbourne and Deakin University with industry partners CEDA (Committee for Economic Development), The Brotherhood of St Laurence and NEIR (National Institute of Economic and Industry Research).

These papers, chosen from among over 100 presentations, have been specially updated and re-written and explore the analysis and application of Transitional Labour Market (TLM) theory. Better known in Europe, the TLM framework is a means of developing new ways of combining flexibility and innovation with social investment and new forms of social protection. Changes in life and work in a globalised economy require new ways of thinking and responding to change. These involve new institutional frameworks, linked to new policies and programs based on TLM principles. Gunther Schmid's TLM model emphasises building transition supports or bridges between unemployment and employment or paid and unpaid work, training and unpaid activities such as caring or study. Contributors cover a range of issues and engage with innovative proposals aimed at meeting the TLM requirements of maintaining employability, social protection or adaptability whilst maintaining levels of economic security.

TLM theory emphasises the importance of institutions and of the links between different institutions within a framework of enablement and investment. The collection is aimed at resourcing analysis and policy thinking that will assist in social protection and social inclusion in new and innovative ways.