The striking parallel between the economic models that are … - Arnold Tustin

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The striking parallel between the economic models that are currently under discussion and some engineering systems suggests the hope that in some way the rapid progress in the development of the theory and practice of automatic control in the world of engineering may contribute to the solution of the economic problems.

Arnold Tustin

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About Arnold Tustin

Arnold Tustin (July 16, 1899 – January 9, 1994) was a British engineer, and Professor of Engineering at the University of Birmingham and at Imperial College London, who made important contributions to the development of control engineering and its application to electrical machines.

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Ragnar Frisch Kenneth E. Boulding W. Brian Arthur Jay Wright Forrester Paul Ormerod

Additional quotes by Arnold Tustin

Consideration of a further possibility, namely that of constructing physical systems that are analogues of the economic system, and of observing and recording their behaviour.

The analysis of engineering systems and the understanding of economic structure have advanced since then, and the time is now more ripe to bring these topics into a potentially fruitful marriage.

When beliefs need some modification, We make it with much trepidation, For our world is then new, And things seem all askew, 'til we're used to the new formulation.

The striking parallel between the economic models that are currently under discussion and some engineering systems suggests the hope that in some way… - Arnold Tustin

About Arnold Tustin

Additional quotes by Arnold Tustin