Saw one live today, its pretty impressive when operating. I was a bit disappointed that only the museum guide was there and not the actual operator to change the various economic variables.
Examples include the Federal Reserve System in the United States, the Bank of England, the European Central Bank, the People's Bank of China, and the Bank of Japan.
Some believe that monetary policy is fraught with risk and these risks will result in drastic harm to the populace should monetary policy fail. I'd like to see some evidence before I pass judgment
@wigleypg is that tantamount to saying "I'd like to see if cancer really does kill me before I pass judgement"(?) The event itself may be the evidence?
@JesusManson323 No I don't thinks so, but then I haven't seen any malignant cells - clearly you have?
Is what you are saying tantamount to saying "I'll start chemo right away in case I get cancer some time in the near or distant future"?
Where is the evidence that monetary policy has failed, or is failing, or is about to fail soon? Are we waiting for the second coming or the rapture or financial Armageddon?
Please make a case for a solid alternative to sound monetary policy.
LOL, so by his model the central banks printing money would be an open fire hydrant in the room and the credit card companies a burst water main then the derivatives would be the 5 feet of standing water in the room, money is an illusion, cool computer thingy though.
Fascinating video! I wonder if you could set up the problem for an upward sloping IS, but it might stall out because some derivatives might become infinite because the IS curve is normally downward sloping in most models.
A note. From Alan McRobie at Cambridge University:
wigleypg 5 months ago
Saw one live today, its pretty impressive when operating. I was a bit disappointed that only the museum guide was there and not the actual operator to change the various economic variables.
mattread77 10 months ago
It's the "Glooper"! Thanks Terry Pratchett :-)
Alistairville 1 year ago
Examples include the Federal Reserve System in the United States, the Bank of England, the European Central Bank, the People's Bank of China, and the Bank of Japan.
Some believe that monetary policy is fraught with risk and these risks will result in drastic harm to the populace should monetary policy fail. I'd like to see some evidence before I pass judgment
wigleypg 1 year ago
@wigleypg is that tantamount to saying "I'd like to see if cancer really does kill me before I pass judgement"(?) The event itself may be the evidence?
JesusManson323 1 year ago
@JesusManson323 No I don't thinks so, but then I haven't seen any malignant cells - clearly you have?
Is what you are saying tantamount to saying "I'll start chemo right away in case I get cancer some time in the near or distant future"?
Where is the evidence that monetary policy has failed, or is failing, or is about to fail soon? Are we waiting for the second coming or the rapture or financial Armageddon?
Please make a case for a solid alternative to sound monetary policy.
wigleypg 1 year ago
LOL, so by his model the central banks printing money would be an open fire hydrant in the room and the credit card companies a burst water main then the derivatives would be the 5 feet of standing water in the room, money is an illusion, cool computer thingy though.
ThennyDlux 2 years ago
Fascinating video! I wonder if you could set up the problem for an upward sloping IS, but it might stall out because some derivatives might become infinite because the IS curve is normally downward sloping in most models.
Werelion2367 2 years ago
Bet ya if the public had one of these to check on Wall Street with, the economy wouldnn't now be in such a deep ditch!
ufoengines 2 years ago
Thank God they got the water computer going again!
Now the economy will improve and I can tap my I.R.A. at 59 1/2 like I planned.
Whew!
ufoengines 2 years ago