James Tobin
James Tobin (March 5, 1918 – March 11, 2002) was an American economist who served on the Council of Economic Advisers 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. He also proposed an econometric model for censored endogenous variables, the well-known "Tobit model". Tobin received the Nobel Memorial Prize in Economic Sciences in 1981.
Liam Tobin
Tobin was born in 1895 Cork, the eldest son of Mary Agnes ("nee" Butler) and David Tobin, a hardware clerk. Tobin had two younger siblings, Katherine and Nicholas Augustine Tobin, also born in Cork City. Tobin's family moved to John St. in Kilkenny and then to Dublin. Tobin went to school in Kilkenny and was an apprentice in a hardware shop at the time of the 1916 Rising. As a participant in the Easter Rising he fought in the Four Courts Garrison under Edward Daly. He was arrested and courtmartialed. He was sentenced to death and then had his sentence commuted to life imprisonment. He was a prisoner in Kilmainham, Mountjoy, Lewes, Dartmoor, Broadmoor and Pentonville prisons. He was released in June 1917.