The 21st century world is ‘connected’. In such a complex world, teaching students how complex integrated systems — such as the economy — function in a hands-on way is increasingly important.
Seventy-five years ago, a radical, 2-meter-tall analogue, water-based computer invented by maverick economist Bill Phillips did just that. But the transition to digital and mobile has largely killed off such experiential devices.
TheFinancial Times and Infosys have used Bill Phillips’ landmark machine as the starting point for a unique XR project which places ‘learning by doing’ at itscore; redefining how we learn (and teach) through experiential learning that combines the best of innovation and creative possibilities.
"The new app is a faithful reworking of the original Moniac, said Alan Smith, OBE,FT Head of Visual and Data Journalism. “A life-sized machine can be placed ontoany flat surface and powered up, either in ‘Freeplay’ mode, or via guidedlessons that explain concepts such as the circular flow of income.”
In collaboration with Cambridge University, home of one of the last working original Moniacs, and the London School of Economics, the project team created the ‘FT Money Machine’, which meticulously records every nuance of Phillips' computer. 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.
Within the immersive environment offered by Apple Vision Pro, the Money Machine app recreates the full cause and effect experience of Bill Phillips' original machine and augments it with new XR features combining engaging hands-on guided lessons along with a free play mode to let students create and explore their own economic scenarios.
The experience represents the first time the basic actions of macroeconomic relationships and policy levers have been widely accessible in the publicdomain in an engaging, digestible format for use by students, educators, researchers and historians.
The Money Machine has been a central showcase in a wide list of events attended by senior figures of politics, academia, and economics. These events were held in association with The London School ofEconomics, King’s College Cambridge, World Economic Forum Davos, Bank of England, and in summer 2025 a translated version of the experience in Japanese will be featured at the World Expo.
We are working with economics professors from the above schools and beyond to add the Money Machine to their undergrad curriculum
The FT Money Machine is now available to download for free from theAppleVision Pro App Store. Special coverage of the Money Machine by Alan Smith, OBE and FT’s Head of Visual and DataJournalism and FT senior columnist Tim Harford led the September 7th print FT Weekend and is available free-to-read at ft.com/moneymachine.
