SummaryTo sum up: (1) The contribution of arbitration to the settlement of strikes varies very considerably as between different industries. In industry as a whole, the contribution of arbitration has risen very appreciably since the war but it would appear that this is due more to changes in the industrial composition of aggregate strike data rather than to a substitution of arbitration for other methods in particular industries. A more detailed industry split‐up of the data over a longer period of years would be required in order to reach any firm conclusions on this point. If account be taken of the disputes settled by the industrial tribunals before culminating in strike action, then the contribution of this institution towards industrial peace would be even more significant than indicated by the preceding analysis. (2) Apart from any influence which it may have had upon the course of the general level of real wages over the past half century, there can be no doubt that compulsory arbitration, as it has operated in this country, has been a powerful factor in bringing about a greater degree of relative wage justice in the sense that it has facilitated the application of the “rate for the job” principle on a national basis. This has been particularly beneficial to the weakly organized groups including the white collar workers. (3) Australian trade unionism owes much to the arbitration system in terms of its enhanced membership and extensive interstate and national coverage. (4) As against these substantial gains it must be recognized that under existing arbitration law, Australian trade unions are less free than are those in either the United Kingdom or the United States or indeed in any other democratic country except New Ze