Tuesday, May 7, 2013

Turn on the Economy

"Turn on the economy". That's one of the invitations issued to (web) visitors to the museum of New Zealand's central bank - The Reserve Bank of New Zealand. Accepting this invitation will allow you to see a virtual version of Bill Phillips' famous MONIAC computer at work, and to "play" with the economy yourself.

Doesn't that appeal to you?

Bill Phillips - "the Indiana Jones of Economics" - gave us "the Phillips Curve", of course. However, the MONIAC computer was a revolutionary device that Bill used to demonstrate economic stabilization policy.

If you happen to be visiting New Zealand's capital city - Wellington - you can visit the Bank's (physical) museum, and see the MONIAC "in the flesh".

© 2013, David E. Giles

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