The Phillips Machine ( MONIAC ) - Demonstrated by Professor Allan McRobie
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- เผยแพร่เมื่อ 13 เม.ย. 2021
- Allan McRobie, Professor of Structural Engineering (Dept of Engineering, Cambridge), demonstrates "The Phillips Machine". This was filmed in the Faculty of Economics, during the Alumni Week activities in September 2010.
The Phillips Machine was invented in the 1950's by William (Bill) Phillips to calculate the workings of the UK national economy using water. It is also known as a MONIAC (Monetary National Income Analogue Computer)
This was awesome! Thanks for posting this!
Its the trickle down economy.
Cool video!
great start. now make all the parts leak and put a label on the collection tank that says 'billionaires'
I think it's more amazing, how many "highly educated" people (in the room)... don't seem to grasp the concept of an _equilibrium_
Math doesn't show us Reality; the Real-world proves our "structure" of mathematics.
In this day in age... we really should enact a competency _prerequisite_ for those in government
what this model ignores is the pump. that represents the extraction of resources
Does this machine handle phenomena like inflation, where the value of money changes? Or is that irrelevant since it looks at money in an isolated fashion without its exchange for other goods?
The model was built in 1949, where money is still pegged to gold and thus inflation was not considered. Many of the underlying principles are also outdated, but it is an effective teaching tool and simulator for the time.
@@tonysoviet3692 Yeah the US economy only officially abandoned the gold standard on 15 August 1971, when Richard Nixon was president.
Inflation is a general rise of goods prices not stritcly linked to value of money( depreciation etc) just to point it out
"4+4 equals 6 in economics"...
Well I give up...
Seems as if the audience wasn't taking him serious