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.
W. M. Gorman
William Moore "Terence" Gorman (17 June 1923 – 12 January 2003) was an Irish economist and academic. He was predominantly a theorist and is most famous for his work on aggregation and separability of goods, and in this context he developed his famous Gorman polar form. Gorman's career saw him a professor at such schools as Oxford, London School of Economics, Johns Hopkins, and Stanford, and he was honoured with the Presidency of the Econometric Society in 1972. His work was often highly technical and theoretical in nature, which made him incomprehensible to many of his contemporaries, but his keen eye for applications has given his work a lasting influence on modern economics.