David Sciulli's work provides invaluable aid in understanding corporate governance in its largest frame. What the world now calls corporate governance involves more than issues of utilitarian effectiveness. At its most basic level, it presents issues of public policy and power grounded in philosophical conceptions of man and society. The deep issues that corporate structure and power raise come visibly to the surface only periodically in our history. Currently the world can witness the tensions that are inherent in corporate governance in the European Unions' struggle to redefine the role of capital markets and of other political institutions in the design of its emerging structure. In the U.S. these tensions were last exposed by the hostile takeover wave of the 1980s.