Word: kaysen
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...CARL KAYSEN is a professor-turned-administrator. After a two-year stint advising the Government on foreign affairs, he returned to Harvard in 1963, prepared to spend the rest of his career here, teaching and doing research in political economy. But in 1966, when trustees of the Institute for Advanced Study in Princeton approached him, asking him to take over J. Robert Oppen-heimer's post as director of the "intellectual hotel," he could not resist their offer...
...Kaysen is eager to take full advantage of the place that made Albert Einstein exclaim, "Ah, Heaven!" when he first arrived. But times have changed since Einstein's day, and Kaysen has had to spend much of his time raising money to support the Institute's roughly 200 permanent and visiting members...
...Kaysen called for greater publication of the decisions that are made in business and then informed criticism by knowledgeable persons in business and related fields...
Citing auto safety as an example, Kaysen said auto manufacturers should publish the history of their research into a safety device, which would then be reviewed by competent judges in the field...
Private industries should be allowed to reinvest profits in the corporation, "provided they feel the impulse to spend these profits on social projects," Kaysen said. In this way the ineffectiveness of large corporations and separate foundations designed to solve economic problems would be eliminated...