Fascinating and surprising developments are taking place in the classification of algebraic varieties. Work of Hacon and McKernan and many others is causing a wave of breakthroughs in the Minimal Model Program: we now know that for a smooth projective variety the canonical ring is finitely generated. These new results and methods are reshaping the field. Inspired by this exciting progress, the editors organized a meeting at Schiermonnikoog and invited leading experts to write papers about the recent developments. The result is the present volume, a lively testimony of the sudden advances that originate from these new ideas. This volume will be of interest to a wide range of pure mathematicians, but will appeal especially to algebraic and analytic geometers.