Professor Bill Phillips unveils MONIAC at the LSE
29th November 1949
In 1949, New Zealand economist Bill Phillips creates the MONIAC (Monetary National Income Analogue Computer) to use as a teaching aid at the London School of Economics.
Also known as the "Phillips Hydraulic Computer" and the "Financephalograph", the machine was a hydraulic analogue computer that used fluidic logic, pumping water through pipes and tanks, to model economic ideas.
Bill Phillips invented the machine to help students visualise the circular flow of money within an economy. Specifically, MONIAC modelled the national economic processes of the United Kingdom.
The machine was demonstrated on 29th November 1949 to an audience at the London School of Economics.
The machine ran until May 1992.