James Tobin

James Tobin was an influential American economist known for his work in finance and macroeconomics. He developed the Tobin Q theory, which explains how the market value of a company's assets influences its investment decisions. He also proposed the Tobin Tax, a levy on currency transactions aimed at stabilizing financial markets. Tobin received the Nobel Prize in Economics in 1981 for his contributions to understanding the behavior of financial markets and economic policy. His ideas continue to inform economic theory and practice, particularly in areas like investment decisions and market efficiency.