Universities and Left Review is a calculated risk. And since the success or failure of this venture depends on the degree of frankness which can be assumed between editors, writers and readers, it is proper that the nature of the risk, and the character of the venture, should be discussed in this first editorial. The post-war decade was one in which declining political orthodoxies held sway. Every political concept became a weapon in the cold war of ideas, every idea had its label, every person had his place in the political spectrum, every form of political action appeared�in someone's eyes�a polite treason. To recommend the admission of China to the U.N. was to invite the opprobrium of "fellow-traveller": to say that the character of contemporary capitalism had changed, was to be ranked as a "Keynsian liberal" or worse. Between the high citadel of Stalinist Russia, and the "welfarestate� no-further" jungle of the mixed economy, there seemed to be nothing but an arid waste.