  We study N=1 supersymmetric SU(2) gauge theory in four dimensions with a
large number of massless quarks. We argue that effective superpotentials as a
function of local gauge-invariant chiral fields should exist for these
theories. We show that although the superpotentials are singular, they
nevertheless correctly describe the moduli space of vacua, are consistent under
RG flow to fewer flavors upon turning on masses, and also reproduce by a
tree-level calculation the higher-derivative F-terms calculated by Beasely and
Witten (hep-th/0409149) using instanton methods. We note that this phenomenon
can also occur in supersymmetric gauge theories in various dimensions.
