The machine you see in this video is a pretty famous “computer”. Identify and tell us what it was used for.

Video Link for the Flash challenged.

P.S: The search for a decent GUI based video editor is over! The winner is PiTiVi.

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Answer:
MONIAC — The awesome economy simulator built by Bill Phillips. Its an analogue computer which uses water to do its computation.
More details here: http://en.wikipedia.org/wiki/MONIAC_Computer