Who was James Tobin?
Q: Who was James Tobin?
A: James Tobin was an American economist known for his contributions to the study of investment, monetary and fiscal policy, and financial markets.
Q: What did Tobin suggest with regards to foreign exchange transactions?
A: Tobin suggested a tax on foreign exchange transactions, known as the "Tobin tax," to reduce speculation on currency markets which he saw as unproductive.
Q: What did Tobin believe the money gained from the Tobin tax could be used for?
A: Tobin believed that the money gained from the Tobin tax could be used to fund projects benefiting Third World countries or to support the United Nations.
Q: What were some of Tobin's academic contributions?
A: Tobin made pioneering contributions to the study of investment, monetary and fiscal policy, and financial markets.
Q: What economic ideas did Tobin support and develop?
A: Tobin supported and developed the ideas of Keynesian economics.
Q: What was Tobin's view on government intervention in the economy?
A: Tobin believed that governments should intervene in the economy to stabilize output and avoid recessions.
Q: What was James Tobin's lifespan?
A: James Tobin lived from March 5, 1918, to March 11, 2002.
