James Tobin

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Definition
  1. Proper noun:
    • James Tobin: An American economist who lived from 1918 to 2002. He was a recipient of the Nobel Memorial Prize in Economic Sciences in 1981 for his analysis of financial markets and their relations to expenditure decisions, employment, production, and prices.
Usage Examples
  • Proper noun:
    • The Tobin tax, proposed by James Tobin, is a suggested tax on currency transactions.
    • James Tobin's work on portfolio selection theory is a cornerstone of financial economics.
Advanced Usage

  • "Tobin's q": A financial ratio, developed by James Tobin, comparing the market value of a company to the replacement cost of its assets.

    • Analysts use Tobin's q to assess whether a firm is overvalued or undervalued.

  • "Tobin tax": A proposed tax on spot currency conversions, intended to penalize short-term financial speculation.

    • Advocates argue a Tobin tax could reduce volatility in foreign exchange markets.
Variants and Related Words
  • Tobinesque (adj): Characteristic of or relating to the economic theories of James Tobin.
    • The policy proposal had a distinctly Tobinesque focus on market efficiency and stabilization.
Synonyms
  • Economist: A specialist in economics.
  • Nobel laureate: A person who has been awarded a Nobel Prize.
Related Terms and Concepts
  • Portfolio choice theory: A theory associated with James Tobin concerning how investors balance risk and return.
  • Liquidity preference: A Keynesian concept on which Tobin expanded in his monetary theory.
Noun
  1. United States economist (1918-2002)

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