Government policy in its relation with the business world is the chief theme of the Harvard Business Review which is being published today. The leading article is by J. Franklin Ebersole, professor of Finance, who weighs the relative power of the Treasury Department and the Federal Reserve System and reaches the conclusion that the power residing in that of the former exceeds that of the Reserve system.
Professor D.B. Copeland of the University of Melbourne, who played one of the leading parts in the measures taken to alieviate the depression in Australia, writes on "Australian Recovery and Government Policy."
Additional papers have been written by John C. Baker, assistant director of research at the Business School, Ross G. Walker, professor of Accounting, and a description of the change in German advertising policies since the advent of the Nasis by Fritz Redlich.