Word: input-output
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Last week the Commerce Department proudly brought forth a major new aid that will prove invaluable in analyzing the U.S. economy and its parts. It is called the input-output table, and its 24,044 computations are the result of five years and three-quarters of a million dollars' worth of work by a 20-man staff in Commerce's Office of Business Economics. Basically, the staff divided U.S. industry into 86 groups, painstakingly put precise numbers on the intricate interplay of sales and orders among them and tied the whole works for the first time to such basic statistical...
...better insight into who are his customers' customers (a notoriously foggy order) and show him where he is missing markets in which his competitors are selling. It enables a paint company, for example, to figure out its sales drop on a $3 billion defense cut in missiles and aircraft. Input-output shows that the aerospace industry uses 0.2450 of paint industry materials for every $1 of sales, and that a $3 billion drop in orders would thus mean a loss of $7,300,000 in sales to the industry. Knowing that it had 10% of the market, a paint firm...
Leontief will be the third Chairman of the 30-year-old Society. Which was founded by President Lowell. The new Chairman is known especially for his work in developing the "input-output" method of analyzing national economies...
...department has begun to adopt some technological changes in the administration segment of its production function," he stated. "We are attempting to accumulate the information necessary for determining input-output ratios and other facts relevant to running an efficient business...
...burdens of composition. First, there was the matter of terminology: his field (economics) had no shortage of scientific words, which, since they represented the collected wisdom of the discipline, must be not only used but totally assimilated as well. Soon he was thinking in terms of maximized efficiency, input-output ratios, and consumer indifference curves. Second, there was the need to guard against vague language. On those occasions when he permitted himself a metaphor Herbert always added "so to speak" or "as it were" so that it would be clear that he was merely using a figure of speech...