This book is a collection of informed observations on the current American business scene. Part I was originally published as the Winter 1969 issue of Daedalus; Part II, however, contains both a new Preface and eight essays written during 1970-1971 which expand or illustrate themes that emerged from the earlier papers. The first part of the book presents the views of a number of scholars and scholarly journalists on the role of American business, focusing particularly on its responsibility in a time of deepening social crisis. Several themes are apparent: a consensus that private business will increasingly supply many of the physical goods and services previously obtained from public sources, and that the profit motive (tempered by social responsibility) will remain a primary force in American business; a general concern with the impact of accelerating techlogy and with the need for more comprehensive planning; a recognition of the increasing role of American business abroad and the problematic relationship of large U.S. firms to the sovereignty of foreign governments; and a ticeable fear that some sort of corporate fascism will develop from corporate involvement in the work of government and society, coupled with an apprehension that once a level of affluence is attained disaffection with the pressures and consequences of industrialization will swell the ranks of those who criticize or openly reject business as a way of life. In Part II, the editors have asked businessmen to explain how they see American business life evolving--is the modern business manager able to meet pressing social challenges? The majority of the authors feel that big corporations are making a reasonable response to these problems while admittedly groping for the best resolution to the conflict between social responsibility and traditional purely ecomic objectives.