The Financial Times says the ‘Moniac’ (Monetary National Income Analogue Computer) was created in 1949 by London School of Economics (LSE) student Bill Phillips. Designed as a teaching device, only a handful were ever made.
Controls allow the user to adjust levels of consumption, taxation and investment and see the resulting impact of their actions on the economy. The machine's landmark status is acknowledged by its inclusion in the British Science Museum.
In collaboration with Cambridge University, home of one of the last working original Moniacs, the project team have created the ‘FT Money Machine’, which meticulously records every nuance of Phillips' computer, added the publisher. Bridging the gap between historical analogue computing and modern digital learning, it uses the Apple Vision Pro – which blends digital content with the physical world – to give users an immersive and interactive experience for a global digital audience. It was co-designed and developed by the FT and Infosys’ human experience agency, WongDoody.
FT Head of Visual and Data Journalism Alan Smith said: "The new app is a faithful reworking of the original Moniac. A life-sized machine can be placed onto any flat surface and powered up, either in ‘Freeplay’ mode, or via guided lessons that explain concepts such as the circular flow of income."
FT Director of Strategic Partnerships James Lamont said: "The FT has long been a fan of Phillips' work. Referred to by many as "The Indiana Jones of macroeconomics", he was an incredible innovator and we are thrilled to be able to bring his seminal work to a whole new generation of economics students. We are proud to bring this initiative to life as part of our ongoing strategic partnership with Infosys."
Ashiss Kumar Dash, EVP and segment head - services, utilities, resources, energy at Infosys, said: “At Infosys, we are committed to our purpose of leveraging technology to amplify human potential and create the next opportunity for people, businesses, and communities. Our collaboration with FT for this innovative project that bridges historical innovation with today’s most advanced digital technologies to deliver education at scale aligns perfectly with our purpose. By recreating the Moniac as the FT Money Machine, we are providing users with a unique educational tool that makes the complexities of economic systems both accessible and engaging, enabling the exploration and understanding of how money flows through an economy.”
The FT Money Machine is now available to download for free from the Apple Vision Pro App Store. Special coverage of the Money Machine by Alan Smith and FT senior columnist Tim Harford was published in last weekend’s print FT Weekend, and is available free-to-read here.
The FT says an event will be held at the LSE on 18 September to acknowledge the Moniac’s contribution to economics and celebrate the launch of the digital version.
