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Soap-Bubble Systems. Since 1946, U.S. economics has undergone some pervasive changes. The spiritual parent of these transformations was Columbia University's Professor Wesley Clair Mitchell (1874-1948), whose treatise, Business Cycles, is widely regarded as the most important of all U.S. contributions to economics. Mitchell was the "prophet of facts and figures." In his youth he studied economics and philosophy, and he noticed in both a common tendency to "spin speculations by the yard," build up "grand systems like soap bubbles." Mitchell insisted that what economics needed was more facts. To that end he founded...

Author: /time Magazine | Title: The Economy: The Pragmatic Professor | 3/3/1961 | See Source »

...bright Sunday morning, and the beach was thronged with sun-roasters, surf-coasters, bikini-oglers and juvenile sand-throwers. Suddenly a wild-looking man garbed like an Old Testament prophet loped across the sand and hurled himself into the waves. Loungers looked up, transistor-radio earplugs popped out of ears. Again and again the man plunged into the sea, and a crowd began to gather. Before people knew what had happened, they were listening to the dripping prophet tell the story of Naaman the leper, who threw himself seven times into the River Jordan and was miraculously healed...

Author: /time Magazine | Title: Religion: On the Beach | 2/17/1961 | See Source »

Utter Strangeness. The twelve-tone idiom is music's only salvation, according to Prophet Hodeir, but of all twelve-toners, perhaps only Jean Barraqué measures up to Critic Hodeir's ideal: "A world of utter strangeness." In Hodeir's view, Barraqué's Séquence for soprano and chamber orchestra is one of the "rare works in the history of music," and "the greatest piece of music written in Europe since Debussy's last period." Barraqué's unfinished La Mart de Virgile, to which he expects to devote the rest...

Author: /time Magazine | Title: Music: The Compleat Composer | 2/17/1961 | See Source »

...often liberal with authors' advances. He is widely celebrated as Broadway's biggest s.o.b. since the heyday of Jed Harris, but he has the respect of many professionals from Josh Logan to Garson Kanin, and his steady, money-making backers think he is a major prophet...

Author: /time Magazine | Title: Show Business: The Hot Dice | 1/27/1961 | See Source »

...president of Mutual Insurance Co. of Hartford, furthered his campaign last week for Connecticut's G.O.P. gubernatorial nomination in 1962. Speaking to Young Republicans, he took the trouble carefully to disassociate himself from Brother Joe's "enthusiasm for the Democratic ticket" and declared: "I am not a prophet of gloom and doom like my brother, Joseph-whose keeper...

Author: /time Magazine | Title: People: Jan. 20, 1961 | 1/20/1961 | See Source »

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