The book gives an account of local quantum physics - the synthesis of quantum theory with the principle of locality. It describes both the physical concepts and the mathematical structures and their consequences. The ideas are assessed both thoroughly and critically. The new edition has been revised and contains a new chapter on the theory of measurement.

I. Background.- 1. Quantum Mechanics.- 2. The Principle of Locality in Classical Physics and the Relativity Theories.- 3. Poincaré Invariant Quantum Theory.- 4. Action Principle.- 5. Basic Quantum Field Theory.- II. General Quantum Field Theory.- 1. Mathematical Considerations and General Postulates.- 3. Physical Interpretation in Terms of Particles.- 4. General Collision Theory.- 5. Some Consequences of the Postulates.- III. Algebras of Local Observables and Fields.- 1. Review of the Perspective.- 2. Von Neumann Algebras. C*-Algebras. W*-Algebras.- 3. The Net of Algebras of Local Observables.- 4. The Vacuum Sector.- IV. Charges, Global Gauge Groups and Exchange Symmetry.- 1. Charge Superselection Sectors.- 2. The DHR-Analysis.- 3. The Buchholz-Fredenhagen-Analysis.- 4. Global Gauge Group and Charge Carrying Fields.- 5. Low Dimensional Space-Time and Braid Group Statistics.- V. Thermal States and Modular Automorphisms.- 1. Gibbs Ensembles, Thermodynamic Limit, KMS-Condition.- 2. Modular Automorphisms and Modular Conjugation.- 3. Direct Characterization of Equilibrium States.- 4. Modular Automorphisms of Local Algebras.- 5. Phase Space, Nuclearity, Split Property, Local Equilibrium.- 6. The Universal Type of Local Algebras.- VI. Particles. Completeness of the Particle Picture.- 1. Detectors, Coincidence Arrangements, Cross Sections.- 2. The Particle Content.- 3. The Physical State Space of Quantum Electrodynamics.- VII. Principles and Lessons of Quantum Physics. A Review of Interpretations, Mathematical Formalism and Perspectives.- 1. The Copenhagen Spirit. Criticisms, Elaborations.- 2. The Mathematical Formalism.- 3. The Evolutionary Picture.- VIII. Retrospective and Outlook.- 1. Algebraic Approach vs. Euclidean Quantum Field Theory.- 2. Supersymmetry.- 3. TheChallenge from General Relativity.- Author Index and References.