MONIAC, short for Monetary National Income Analogue Computer, is a hydraulic model designed to simulate and analyze the economy. Developed in the late 1940s by British economist William Phillips, it represented various economic variables and processes using water flow and mechanical components. In the MONIAC model, different tanks represented different sectors of the economy (such as households, firms, and the government), and water flows between these tanks modeled the movement of money and resources through the economy.
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