R. Bellman's 1954 paper, “Dynamic Programming and a New Formalism in the Calculus of Variations,” published in the Proceedings of the National Academy of Sciences, presents a novel approach to solving complex optimization problems using dynamic programming. Bellman introduces this method as a powerful tool that systematically decomposes a problem into a series of simpler subproblems, which can be solved sequentially to arrive at the optimal solution. This approach provides a new formalism in the calculus of variations, allowing for the efficient handling of multi-stage decision processes and problems involving continuous variables. Bellman's work lays the foundation for the field of dynamic programming, significantly influencing subsequent research and applications in various disciplines, including economics, engineering, and operations research. This seminal paper highlights the versatility and effectiveness of dynamic programming in tackling a wide range of optimization challenges.