A Letter From The Publisher: May 4, 1981

For this week's cover story on masters of business administration, TIME correspondents grabbed their pencils and notebooks and went back to school. They soon realized that the popular stereotype of business students had changed since their own undergraduate days. Says Correspondent Jeff Melvoin: "When I graduated from Harvard in 1975, the M.B.A.s were roundly booed at commencement. Like most of my peers, I imagined them to be plodding and unimaginative at best—venal and ruthless at worst." Melvoin, who majored in American history and literature, spoke to M.B.A. candidates at Harvard, M.I.T. and...

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