Via Old is the New New, MONIAC, the MOnetary National Income Automatic Computer: an analogue hydraulic computer designed by A. W. Phillips, a New Zealander, while a student at the LSE in 1949. The prototype was apparently built out of spare Lancaster parts. And there's one on display at the University of Melbourne, otherwise known as 'my uni', so obviously I had to go and have a look at it!

The MONIAC is currently on the 1st floor of the Economics and Commerce building (on the Parkville campus, off Professors Walk), just opposite the lifts, if anyone wants to visit (though it will probably move to the new building on Berkeley St when that's finished). It's a bit over 6 feet high. The bit of paper stuck to the door reads:
MONIAC stands for:
Monetary National Income Analogue Computer
The MONIAC is a hydraulic model of the economy which was used originally in the teaching of economies. Today, econometric modelling is undertaken in modern Research Computer Laboratories. Visit the Commerce Research Laboratory on this floor to compare the vastly changed environment for teaching and research.
The MONIAC was designed by A. W. Phillips, (an engineer turned economist of "Phillips Curve" fame) who constructed a working model of the Keynesian System utilising coloured water (representing incomes, expenditures, etc) flowing through pipes.
Only 3 or 4 models were built and this is the only known model in Australia. A working model is located in London. The cost of restoring this MONIAC to working has been quoted in the vicinity of $40,000+!
BY THE WAY:
The "Computer" had a reputation for leaking during demonstration!
Could this be the origin of terms used a great deal by Keynesian Economists namely, "Injections" and "Leakages"?
Expressions of interest in contributing to the restoration may be made to the Dean of the Faculty of Economics and Commerce.
However, Wikipedia says that there were 12 to 14 units made. MONIAC caused a sensation at the time (at least among economists!), and was lampooned in Punch. His creation probably helped put Phillips on the fast-track to a full professorship.
The working model in London would be one that's at the Science Museum; there's another at Cambridge, and the original prototype is being restored at Leeds.
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