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Made by an engineer turned economist from New Zealand no less. Sadly he is better know for a diagram he drew of an observation, the Phillips curve. I fear tha
by digi_owl 8y ago
Made by an engineer turned economist from New Zealand no less.
Sadly he is better know for a diagram he drew of an observation, the Phillips curve.
I fear that much like this hydraulic model, Steve Keen's work is likely to be ignored or ridiculed by future economists while they fret over religious X diagrams.
- fjsolwmv 8y agoHydraulic models solve differential equations. They aren't bad , but modern computers are a much better computational environment.
- dredmorbius 8y agoThere's a fairly significant overlap between engineers and economists. Chemists and physicists also. Largely out of the economic mainstream, since the 20th century, sadly.