Tobin, James

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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).
References in periodicals archive ?
The Topic: Beginning with the summer of 1921, when Franklin Delano Roosevelt was diagnosed with polio, and ending with his 1932 presidential election, James Tobin examines FDR's valiant response to the disease that robbed him of the ability to walk in an era that viewed "cripples" with fear and disdain.
Elliott, who had served as a company director since 2007, became a senior adviser to Boston Scientific on June 23 and took over as CEO on July 13 from James Tobin, who later retired.
Other economists focused more on expanding the accounts to better measure economic well-being; this group included Robert Eisner, William Nordhaus, James Tobin, and Nancy and Richard Ruggles.
It is now almost 40 years since James Tobin, an American economist who went on to win the Nobel Prize for Economics, devised a very small levy to "throw sand in the wheels of global finance".
UK Prime Minister Gordon Brown and France's President Nicolas Sarkozy had brought up the levy - which is a variation on an idea put forward in the 1970s by economist James Tobin to deter currency speculation - as a means of financing a climate change fund.
The proposal is popularly known as a Tobin tax, after the late James Tobin, its originator.
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.
James Tobin suggested a one per cent levy, but setting the rate at even a twentieth of that today would raise around pounds 20billion a year.
Which is why the name of James Tobin (1918-2002) has re-emerged in the financial pages of newspapers that take coverage of economics seriously.
A Tobin tax is a small tax on foreign exchange transactions, originally proposed by the economist James Tobin in the 1970s.
Federal prosecutors have dropped their case against James Tobin, a Republican organizer they accused in a plot to jam Democratic phone lines in New Hampshire during the 2002 election.