“First unveiled at the London School of Economics in 1949, the Phillips machine used hydraulics to model the workings of the British economy.”
This is fascinating… The wild side has more information.
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[…] I like this video, but I am afraid that those who did not yet think through modern money will need to watch this in slow motion. Working with metaphors is a good idea, but then this can only be a teaser. As that, it works quite well. It reminds me of the good old Phillips machine. […]
By: Diagrams & Dollars: Modern Money Educational Video | econoblog101 on July 15, 2014
at 8:17 pm