Views on Business

A "rule of law" is needed to rationalize the use of power in large corporations, Abram J. Chayes, professor of Law, claims in The Corporation in Modern Society, a collection of essays published today by the Harvard University Press.

Chayes joins thirteen other experts in law, economics, political science, and sociology who comment on the present and future role of the large corporation.

In his introduction, Edward S. Mason, George F. Baker Professor of Economics and editor of the book, speaks of his fear that "this powerful corporate machine, which so successfully grinds out the goods we want, seems to be running without any discernible controls."