A Digital Remake of the First Analog Economic Computer

Phillips Machine is the first analog economic computer conceptually designed by the famous economist William Phillips. It runs a simulation based on a collection of differential equations. These differential equations represent a simple Keynesian economic model. The characteristics of this analog economic computer are similar to a modern methodology and computer-aided modeling technique called 'System Dynamics'. This study recognizes this similarity and introduces a system dynamics model which is the digital equivalent of Phillips Machine.