Since "big business" is enjoying a "breathing spell" free from the political fears, the Business School this year may discover what has really happened to Wall Street. It can learn whether its admirable program of public administration satisfies the changed shape of such institutions as J. P. Morgan or whether the rapid measures of the last two years have worked more subtle changes than are yet evident.
At any rate, men who are learning for the first time how to use the "big stick" are offered more material than any preceding class. Not only will they receive training in the intricacies of private ownership and administration but also they will be given the chance to glimpse the increasing power of the government over the occupations which they plan to enter.
The new program is important. Since it is designed to meet experiments which are still in the formulative stage, however, the basic training of the Business School retains its position of primary importance. Unless a graduate knows the problems of any institution with which he is connected, he will be unable to discern the province to be wisely administered by a wise government.