JAMES TOBIN - AUTOGRAPHED SIGNED PHOTOGRAPH - HFSID 300193

JAMES TOBIN


The Nobel Prize-Winner and economic advisor of US President John F Kennedy is shown with a thoughtful attitude in this 4x6¼ black and white photograph, signed in black ink


Photograph Signed: "James Tobin". B/w, 4x6¼.  James Tobin (1918-2002) was an American economist whose alma mater was Harvard University. During 1961 and 1962 he served as a member of President John F. Kennedy's Council of Economic Advisors, under the chairman Walter Heller, then worked as a consultant between1962-1968. In close collaboration with Arthur Okun, Robert Solow and Kenneth Arrow he helped design the Keynesian economic policy implemented by the Kennedy administration. James Tobin also served for several terms as a member of the Board of Governors of Federal Reserve System Academic Consultants and as a consultant of the US Treasury Department. He was a professor at Harvard and Yale Universities who not only developed the ideas of Keynesian economics but also advocated government intervention to stabilize output and avoid recessions. His academic work included pioneering contributions to study of investment, monetary and fiscal policy and financial markets. Tobin also proposed an econometric model for censored endogenous variables that is well-known as “Tobit model”. James Tobin received the Noble Memorial Prize in Economic Sciences in 1981. He was widely known for his idea of a tax on foreign exchange transactions, now known as the “Tobin tax”; it was designed to reduce speculation in the international currency markets, which he considered dangerous and unproductive.Left edge irregularly cut. Otherwise, fine condition.