MONIAC Economic Computer

[MrAmsterdam]

http://en.wikipedia.org/wiki/MONIAC_Computer

The MONIAC (Monetary National Income Analogue Computer) also known as the Phillips Hydraulic Computer and the Financephalograph, was created in 1949 by the New Zealand economist Bill Phillips (William Phillips) to model the national economic processes of the United Kingdom, while Phillips was a student at the London School of Economics (LSE), The MONIAC was an analogue computer which used fluidic logic to model the workings of an economy.

One question, how will such an analogue computer which used fluidic logic to model the workings of an economy, deal with financial products such as "derivatives" ?

http://www.sciencemuseum.org.uk/images/ ... 03308.aspx

The MONIAC

[phyllotaxis]

Since no computer past or present can know instantly, let alone in advance, *any* human beings economic decision process, any and all computers are no more than statistical estimators, useful only for models of past variables.

Your brain is the only economic computer of relevance.
Learn to use it here: www.Mises.org

Kindest regards-

[phyllotaxis]

Search the site linked above- Mises.org