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.
New Democratic Party candidates, 2006 Canadian federal election
During his time on Parliament Hill, Sader played a key role in helping the House of Commons to pass an NDP motion on the so-called "Tobin tax", making Canada the first legislature in the world to do so. Nobel Prize Laureat James Tobin developed the "Tobin tax", which proposes to tax on cross-border currency transactions to reduce economically harmful currency speculation, stabilize the global economy and currency system, and raise revenues for cash-strapped governments around the world. Sader promoted "practical economics" for ordinary consumers and citizens as a contributing editor of Lorne Nystrom's 1999 book, Just Making Change, which makes sense of complex financial issues.