The Financial Times, in partnership with Infosys, has brought back to life an historic piece of technology that uses water to show how money flows around an economy.
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. 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 global head – sustainability, services, utilities, resources and 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 will be published in tomorrow’s print FT Weekend, and is available free-to-read at ft.com/moneymachine.
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.
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Contact:
Mark Staniland | mark.staniland@ft.com
About the FT Money Machine
Users of The FT Money Machine will not only experience the full operation of The Moniac but also can explore and create their own economic scenarios in free play mode. They will be able to interact with the machine using intuitive gestures such as eye tracking, hand movements, and voice commands, allowing them to adjust variables like consumption, taxation, and investment to see real-time impacts on the economy, as well as understand complex economic interactions, predict outcomes of various policy decisions and enhance economic modelling techniques.
About the Financial Times
The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. The FT has a record paying readership of 1.4 million, more than one million of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organisation where diverse talent thrives in an inclusive workplace.
About WongDoody
Together, we are over 2,000 colleagues in 22 design studios across four continents. Our
service areas are Experience Design, Immersive Experiences and Future-Proof Marketing.
As a subsidiary of the leading international tech company Infosys, we seek new, customer-
centred answers in the sweet spot where creativity and technology meet.