JAMES TOBIN - PAMPHLET SIGNED - HFSID 182113
Sale Price $150.00
Reg. $180.00
JAMES TOBIN
The Nobel Prize-Winner and economic advisor of US President John F Kennedy signs an
article of his authorship entitled “Lives of the Laureates” in black ink
Pamphlet Signed: “James Tobin” in black ink. 11x8½. Twelve Pages. Title: “Lives of the
Laureates”. In part: “Beginning with Keynes at Harvard. Rare is the child, I suspect, who wants
to grow up to be an economist, or a professor. I grew up in a university town and went to a
university-run high school, where most of my friends were faculty kids. I was so unfailing A
student that it was boring even to me. But I don't recall thinking of an academic career. I liked
journalism, my father's occupation; I had put out “newspapers” of my own from age six. I thought
of law; I loved to argue, and beginning in my teens I was fascinated by politics. I guess I knew that
there was economics at the university, but I didn't know what the subject really was. Of course,
economic issues were always coming up in classes on history and government-civics, in those days. I
expected economics to be among the social science courses I would someday take in college, probably
part of the pre-law curriculum. I grew up happily assuming I would go to college in my hometown,
to the University of Illinois. One month before I was scheduled to enroll as a freshman, I was
offered and accepted a Conant Prize Fellowship at Harvard…”.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. Edges
slightly creased. Otherwise, fine condition.
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