James Tobin (March 5 1918 – March 11 2002) was an American economist who in his lifetime served on the Council of Economic Advisors and the Board of Governors of the Federal Reserve System and taught at Harvard and Yale Universities. He developed the ideas of Keynesian economics and advocated government intervention to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment monetary and fiscal policy and financial markets.
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