This volume presents the proceedings of the Joint Summer Research Conference on Algebraic K-theory held at the University of Washington in Seattle. High-quality surveys are written by leading experts in the field. Included is an up-to-date account of Voevodsky's proof of the Milnor conjecture relating the Milnor K-theory of fields to Galois cohomology. The book is intended for graduate students and research mathematicians interested in $K$-theory, algebraic geometry, and number theory.