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James Tobin ( March 5, 1918 - March 11, 2002) was a United States economist.He graduated from Harvard University, served as an economic advisor to the government of John F. Kennedy, and taught for many years at Yale University. In 1981 he won The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.
Tobin advocated and developed the ideas of Keynesian economics. He believed that governments should intervene in the economy in order to stabilise output and avoid recessions. Tobin became widely know for his suggestion of a tax on foreign exchange transactions. This was designed to reduce speculation on currency market s, which he saw as unproductive. He also suggested that the proceeds of the tax could be used to fund projects for the benefit of Third World countries, or to support the United Nations.
The idea of this " Tobin taxA Tobin tax is the suggested tax on all trade of currency across borders. This is supposed to put a penalty on short-term speculation in currencies. The proposed tax rate would be low, between 0. Since one country acting alone would find it very difficult" has received support from a variety of organisations and schools of thought, such as members of the globalization-critical movementAnti-globalization (globalisation) is a political stance of opposition to perceived negative aspects of globalization. The corresponding movement is known widely as the anti-globalization movement and is a largely grassroots effort, with support from some (e.g. ATTACA ssociation for the T axation of Financial T ransactions for the A id of C itizens ATTAC Association pour la Taxation des Transactions pour l'Aide aux Citoyens is an activist organization for the establishment of a tax on exchange transactions. Originall).
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Tobin, James
Tobin, James
Tobin, James
Tobin, James
