An Economic Model “Further development of input-output analysis and the realization of its potentialities for informed and rational decision-making at all levels of economic life call for detailed and more up-to-date tables. Comparison of the 1947 and 1958 input-output tables for the U.S. economy indicates significant changes in the input-output coefficients arising from technological innovation. Work has now begun on the preparation of an input-output table for the U.S. economy based on the data from the census of manufactures for 1963.—Wassily W. Leontief”
Leontief won the 1973 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for this work.
Heroin Antidote “Vincent P. Dole of the Rockefeller Institute has reported promising results from experiments with a drug that simultaneously meets the physiological need of the addict and blocks any attendant euphoria. Dole has induced several heroin addicts hospitalized at the Institute to take methadone, a drug that reduces withdrawal distress. Methadone does not produce the ‘high,’ or euphoria, brought on by heroin; indeed, a strong enough dose of methadone makes the subsequent intake of heroin incapable of producing a ‘high.’ Thus the addict who has received methadone is deprived of his euphoria but does not suffer the agony usually associated with such deprivation. Methadone is a synthetic compound developed in Germany more than 25 years ago and used in Europe today as an ordinary analgesic.”
Aerodynamic Designs “The remarkably shaped motorcar shown in the accompanying illustration has been built in Italy, it is reported, according to designs evolved by Count Marco Ricotti of Milan. It carries, as will readily be understood, the matter of streamline body design further toward its logical conclusion. The Ricotti car is fitted with a 50 horsepower four-cylinder motor, which enables this torpedo on wheels to cover ground at the high rate of 80 miles an hour. Removing the streamline body and letting the car go at top speed in ‘stripped’ shape, immediately reduced its speed to 65 miles an hour. When one considers the considerable weight which such a body has, it must be regarded as a remarkable demonstration of the importance of wind resistance at high speeds.”
A City for Movies “There is a wonderful city out in the heart of the San Fernando Valley in the State of California, which is probably the most unique city in the world. Its name is Universal City, and it is the only municipality in the universe devoted to the manufacture of moving-picture films. It was officially opened on March 15th, and all of its population of 1,500 people are employed in the art of making pictures. It is nothing more or less than a chameleon city, for the entire complexion and appearance of Universal City can be changed in three days to conform to any nationality, style of architecture, color scheme, or state of preservation which occasion requires.”
End of the War, Assassination of Lincoln “An appalling and overwhelming calamity has befallen the nation. The Chief Magistrate has been stricken down by the hand of an assassin; and, as one man, the people are aghast at the magnitude of their loss. In the flood tide of victory, in the fullness of the joy which our successes in overthrowing the rebellion warranted, a pall drops upon the flag, ashes are strewn upon the laurel, the jubilant shouts are changed to cries of mourning…. The deep grief which sits upon the faces of the people, shows how dear to them was the simple, honest, upright man, who so lately guided us. Wise in judgment, inflexible in decision, magnanimous to his enemies, pure in private as in public life, history will record no brighter name upon its pages than that of ABRAHAM LINCOLN.”