Word: input-output
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Like their big brothers in business and government, microcomputers have a central processing unit to do the thinking, an input-output device (typically an electric typewriter connected to a video display screen) for giving instructions and receiving answers, and a memory for storing information. A microcomputer can easily perform such sedentary chores as keeping track of an investment portfolio, maintaining an up-to-date Christmas card list, collating menus or entertaining the kids with a vast Olympiad of electronic games, from TV tennis to Star Trek (destroy the Klingons before they capture the starship Enterprise). Other tasks-reporting on water...
Leontief, who developed the input-output formula that helps economists determine how changes in one sector of the economy affect other sectors, has other complaints about the department. He is bitter that it did not broaden its scope by granting tenure to four radical economists in the past few years (three subsequently left) or by hiring the woman who assisted him in developing applications for his formula, Brandeis Professor Anne Carter...
Leontief, who won the 1973 Nobel Prize for Economics for his work on input-output analysis, last night cited a "lack of moral support" for his work and a general disenchantment with Harvard's Economics Department as the reasons for his move...
...characteristic down-to-earth manner, Leontief likens his complex input-output matrix to a cookbook recipe: "You add a little bit of these production factors, and you get a little bit of those...
...elegantly simple method is based on the idea that the products of certain industries are used as production factors in other industries. Using input-output analysis, an economist can chart the interdependence of industrial output and predict the effects shifts in one industry will have on another...