When government administrators begin to make more key business decisions than corporate managers do, the time has come to rethink—and reshape—the regulatory process. By seizing the initiative, business may find some unexpected new markets and opportunities.

The specter of protectionism is haunting the world economy. In this time of high unemployment and low growth, many countries are responding to serious domestic problems with one of the oldest and most discredited approaches—measures to restrict world trade. The perilous drift toward the...

Discussions of that venerable institution, the corporate board of directors, are moving from the financial pages and the learned journals to the front pages and the nightly TV news. It is becoming apparent that in a period of dramatic takeover battles, the role of the board can be crucial.