Sunday, April 17, 2011

I Am Building My Macroeconomic Model Out of Kite String, Paper and White Glue.

Yes, I am. I would say "balsa wood" too, except the wood isn't balsa and SPF doesn't have the right ring to it. The folding-screen model will consist of six, five foot high panels totaling 10 feet in length. It can be displayed as a semi-circle (convex or concave) or a zig-zag accordion fold. Here are some prototype of elements for the model:









In case anyone is still laboring under the misapprehension that a "macroeconomic model" is necessarily mathematical, let me remind them that William Stanley Jevons relied on mechanical models to "clarify and illustrate questions of logic -- his was not the approach of a mathematician."

2 comments:

  1. Irving Fisher, a student of Willard Gibbs (noted for advancing the theory of chemical thermodynamics), built a kind of hydraulic machine to model his theory of money, as part of his Ph.D. dissertation at Yale.

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  2. Bill "Curve" Phillips built a hydraulic model of the economy that is housed at Cambridge.

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