Stage 2: Economica

Although our original intention had been to consider the construction of a travelling exhibit, financial constraints have ruled this out at this time we nevertheless note that there is an opportunity in economic education to build and exhibit, Economica designed along the lines of the great IBM exhibit prepared by Charles and Ray Eames on the World of Mathematics. Such an exhibit would provide a broad overview of the development of economic and financial practice and theory. This would include economic history sketches of central figures from Aristotle, Adam Smith, Karl Marx, Keynes, Schumpeter and many others. Also covered must be the key inputs from other disciplines, in particular accounting, mathematics and legal thought.

Along with a histomap of great economists; there would be a display of great financiers, analysts and instrument and institution innovators. This includes individuals such as John Law, the Medici, the Fuggers, the Rothschilds, J.P. Morgan, Benjamin Graham and Warren Buffet.

Other exhibits should stress economics and finance in everyday life, the roles of chance and time and the importance of insurance and saving in dealing with them; the evolution of the market economy; production and innovation; the concepts of economic efficiency; the economic aspects of the family life cycle as well as the distribution of income.

Economica should contain several games and simulations illustrating markets, production, insurance and the role of public goods, taxation and the central bank.  We Intend however to go forward with the design of several games within the virtual museum rather than wait for the funding and administration called for by a travelling exhibit that is an order of magnitude more costly than the virtual museum.