Bill Phillips used flowing water to model the economy (npr.org)

• MONIAC uses fluid dynamics to simulate monetary flow.
• Facilitates real-time analysis of macroeconomic variables.
• Highlights the importance of system modeling in policy.

"The article examines the MONIAC, a mechanical analog computer developed by Bill Phillips. By using water flow to represent the circulation of money within an economy, the machine allows for the simulation of complex macroeconomic variables like interest rates, inflation, and unemployment. It provides a tactile demonstration of structural system dynamics in policy formulation."