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Modigliani
Italian painter and sculptor. After studying art in Italy, he settled in Paris (1906), where he exhibited several paintings at the Salon des Indé pendants in 1908. Following the advice of C. Brancusi, he studied African sculpture and in 1912 exhibited 12 stone heads whose simplified and elongated forms reflect African influence. When he returned to painting, his portraits and nudes--characterized by asymmetry of composition, elongation of the figure, and a simplification of outline--reflected the style of his sculpture. By almost eliminating chiaroscuro, he achieved a sculptural quality by the strength of his contours and the richness of juxtaposed colors. In 1917 he began painting a series of female nudes that, with their warm, glowing colors and sensuous, rounded forms, are among his best works. His work reflects his lifelong admiration for Italian Renaissance masters, as well as the influence of P. Cé zanne and Brancusi. He died at 35 of tuberculosis.
Italian-U.S. economist. He fled fascist Italy for the U.S. in 1939 and earned a doctorate from the New School for Social Research in 1944. He taught at several universities, incl. MIT (from 1962). His work on personal savings prompted him to formulate the life-cycle theory, which asserts that individuals build up savings during their younger working lives for use during their own old age and not as an inheritance for their descendants. In order to analyze financial markets, he invented a technique for calculating the value of a company's expected future earnings that became a basic tool in corporate decision-making and finance. He received the Nobel Prize in 1985.
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