I took the liberty of looking it up:
Suffix Rules
Also here:
Managing Projects with GNU Make, Third Edition (look on page 24). The book does state: "Suffix rules were make’s original means for writing general rules. GNU make includes support for suffix rules, but they are considered obsolete having been replaced by pattern rules that are clearer and more general."
I agree with your remarks on what's broken with the Makefile, though.
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Computer Programming: An Introduction for the Scientifically Inclined