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Tobin, James
(redirected from James Tobin)

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Tobin, James, 1918–2002, American economist, b. Champaign, Ill., Ph.D. Harvard, 1947. A professor at Yale Univ. from 1950 until his death, he was also an influential member (1961–62) of President Kennedy's Council of Economic Advisers. Tobin's work advanced the significant "portfolio theory," which holds that diversification of interests offers the best possibility of security for investors, and that investments should not always be based on highest rates of return. He also wrote on the process of information exchange between financial markets and "real" markets. Tobin was awarded the Nobel Memorial Prize in Economic Sciences in 1981.
Tobin, James (1918–  ) economist; born in Champaign, Ill. A professor at Yale University from 1955, he maintained an adamant belief in Keynesian economic theory. His work included interest-elasticity of monetary demands, consumer economics, and the incorporation of money and business cycles in growth models. He received the Nobel Prize in economics (1981).


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Critics argue that measures such as the so-called Tobin tax - a flat tax on currency transactions named after the Nobel Prize laureate James Tobin - would just dry up world financial flows.
Supporters of measures such as a so-called Tobin tax _ a flat tax on currency transactions named after the Nobel Prize laureate James Tobin _ say the money would protect countries from spillovers of financial crises.
The tax was originally proposed in 1971 by Nobel Prize laureate James Tobin as a means of reducing speculation in global markets, but Tobin himself later began to doubt his own idea was workable.
 
 
 
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