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The following paper was one of many seminal works on computing prepared by John von Neumann. This specific paper formed the basis for an article that appears in von Neumann's Collected Works (Vol. V), edited by A. H. Taub and published in 1963 by Pergamon Press. Coauthored by Herman H. Goldstine and von Neumann, the article in the volume is a much expanded version of the following paper.