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.
Jim Tobin
Tobin was born in Oakland, California, where the hometown Oakland Oaks of the Pacific Coast League picked him up. They sent him to their Bisbee-Douglas farm team in the Arizona–Texas League. The New York Yankees signed him shortly thereafter. He played for them in Binghamton and Wheeling in 1933 and 1934. The Yankees sent him back to Oakland in 1935, where he compiled an 11-8 record before tearing the cartilage in his left knee. Appendicitis kept him off the Yankee roster the following year, and he went 16-8 for the Oaks.