We derive a continuum field theory for the Majumdar-Ghosh model in the
large-S limit, where the field takes values in the manifold of the SO(3)
group. No topological term is induced in the action and the cases for integer
spin and half-integer spin appear to be indistinguishable. A one-loop β−function calculation indicates that the theory flows towards a strong
coupling (disordered) phase at long distances. This is verified in the
large-N limit, where all excitations are shown to be massive. (Three figures
not included)Comment: 27 pages, plain.tex, TIFR-TH-92-5