Instruct: Given a question, retrieve documents that answer the question.
Query: When was economist James Tobin born?
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.
Tobin suggested his currency transaction tax in 1972 in his Janeway Lectures at Princeton, shortly after the Bretton Woods system of monetary management ended in 1971. Prior to 1971, one of the chief features of the Bretton Woods system was an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold. Then, on August 15, 1971, United States President Richard Nixon announced that the United States dollar would no longer be convertible to gold, effectively ending the system. This action created the situation whereby the U.S. dollar became the sole backing of currencies and a reserve currency for the member states of the Bretton Woods system, leading the system to collapse in the face of increasing financial strain in that same year. In that context, Tobin suggested a new system for international currency stability, and proposed that such a system include an international charge on foreign-exchange transactions.
Tobin was born on March 5, 1918, in Champaign, Illinois. His father was Louis Michael Tobin, (b. 1879) a journalist working at the University of Illinois at Urbana–Champaign. His father had fought in World War I, was a member of the first Greek organization at Illinois (Delta Tau Delta fraternity Beta Upsilon chapter), and was credited as the inventor of 'Homecoming'. His mother, Margaret Edgerton Tobin (b. 1893), was a social worker. Tobin followed primary school at the University Laboratory High School of Urbana, Illinois, a laboratory school in the university's campus.
Tom Tobin (1823–1904) was an American adventurer, tracker, trapper, mountain man, guide, US Army scout, and occasional bounty hunter. Tobin explored much of southern Colorado, including the Pueblo area. He associated with men such as Kit Carson, "Uncle Dick" Wootton, Ceran St. Vrain, Charley Bent, John C. Fremont, "Wild Bill" Hickok, William F. Cody, and the Shoup brothers. Tobin was one of only two men to escape alive from the siege of Turley's Mill during the Taos Revolt. In later years he was sent by the Army to track down and kill the notorious Felipe Espinosa and his brother; Tobin returned to Ft. Garland with their heads in a sack.
On March 23, 1999, due in part to the Halifax Initiative work with Members of Parliament, members from all five political parties contributed to a vote which passed a private member motion on the Tobin tax. The motion was originally brought forward by New Democratic Party MP Lorne Nystrom. The motion passed by a margin of 164 to 83, including that of 131 Liberal Party of Canada members. As a result, discussions of the Tobin Tax reemerged in national referenda around the world and in United Nations' studies, and lent growing support for global taxes.
The second son of James Tobin of Nevis in the West Indies, and his wife Elizabeth Webbe, he was elder brother of John Tobin and James Webbe Tobin. He was born in England at Salisbury on 13 December 1768, and studied at King Edward VI School, Southampton. He entered the navy in 1780 on board the HMS "Namur", in which he later went out to the West Indies, being present at the Battle of the Saintes during April 1782.
On September 19, 2001, retired speculator George Soros put forward a proposal, special drawing rights or SDRs that the rich countries would pledge for the purpose of providing international assistance, without necessarily dismissing the Tobin tax idea. He stated, "I think there is a case for a Tobin tax... (but) it is not at all clear to me that a Tobin tax would reduce volatility in the currency markets. It is true that it may discourage currency speculation but it would also reduce the liquidity of the marketplace."
Tobin married in 1766 Elizabeth Webbe, daughter of George Webbe, a Nevis planter. Living until 1777 in Salisbury, they had eight children: James Webbe, George, Henry Hope, John, Elizabeth, Charles Meadows, Joseph Webbe, and Frances. Elizabeth married John Cobham of Barbados, and Frances Robert Bush of Clifton. In a marriage of first cousins, George Webbe Tobin, son of George, married Susannah Cobham, daughter of Elizabeth.
On September 19, 2001, retired speculator George Soros put forward a proposal based on the IMF's existing special drawing rights (SDRs) mechanism. In Soros' scheme, rich countries would pledge SDRs (which are denominated as a basket of multiple 'hard' currencies) for the purpose of providing international assistance. Soros was not necessarily dismissing the Tobin tax idea. He stated, "I think there is a case for a Tobin tax ... (but) it is not at all clear to me that a Tobin tax would reduce volatility in the currency markets. It is true that it may discourage currency speculation but it would also reduce the liquidity of the marketplace." In this Soros appeared to agree with the Chicago School.
James Tobin is a struggling artist in San Francisco who owns an art gallery with his business partner, Zachary Barnes. For some time, the gallery is a lucrative business. However, after a new series of Tobin's paintings fail to sell, the gallery struggles financially. Tensions rise further when a burglary occurs at the gallery and Tobin's new series of paintings are stolen. During this time, unrelatedly, Barnes and Tobin's girlfriend, Ruby Garcia, have a one-night stand. One morning a few weeks later, an incident occurs between Tobin and Barnes at the gallery and Tobin shoots Barnes dead.
At the UN World Conference against Racism 2001, when the issue of compensation for colonialism and slavery arose in the agenda, President Fidel Castro of Cuba advocated the Tobin Tax to address that issue. According to Cliff Kincaid, Castro advocated it "specifically in order to generate U.S. financial reparations to the rest of the world", however a closer reading of Castro's speech shows that he never did mention "the rest of the world" as being recipients of revenue. Castro cited holocaust reparations as a previously established precedent for the concept of reparations. Castro also suggested that the United Nations be the administrator of this tax, stating the following:May the tax suggested by Nobel Prize Laureate James Tobin be imposed in a reasonable and effective way on the current speculative operations accounting for trillions of US dollars every 24 hours, then the United Nations, which cannot go on depending on meager, inadequate, and belated donations and charities, will have one trillion US dollars annually to save and develop the world. Given the seriousness and urgency of the existing problems, which have become a real hazard for the very survival of our species on the planet, that is what would actually be needed before it is too late.
The dollar was the currency of Tobago until 1814. The currency comprised various cut Spanish dollars and countermarked French colonial coins. The dollar was subdivided into 11 "bits", each of nine "pence". In 1814, sterling was established as the official currency of the island. Since 1905, dollars have once more circulated on Tobago, first the Trinidad and Tobago dollar, then the British West Indies dollar, before the Trinidad and Tobago dollar was reintroduced.
Trinidad and Tobago gained its independence from the United Kingdom on 31 August 1962. Elizabeth II remained head of state as Queen of Trinidad and Tobago. Eric Williams, a noted Caribbean historian, widely regarded as "The Father of The Nation", was the first Prime Minister; he served from 1956 to 1959, before independence as Chief Minister, from 1959 to 1962, before independence as Premier, from 1962 to 1976, after independence as Prime Minister of Trinidad and Tobago, then from 1976 to his death in 1981 as Prime Minister of the Republic of Trinidad and Tobago. Rudranath Capildeo was the first Leader of the Opposition of Trinidad and Tobago post-independence; he served from 1962 to 1967. Solomon Hochoy was the first Governor-General and he served from 1962 to 1972.
John Tooby, the founder of MacDonald's field of evolutionary psychology, criticized MacDonald in an article for "Salon" in 2000. He wrote, "MacDonald's ideas—not just on Jews—violate fundamental principles of the field." Tooby posits that MacDonald is not an evolutionary psychologist, and advocates models incorporating group-selection theory, a view of natural selection whose importance is disputed.
The University of Tennessee (also referred to as The University of Tennessee, Knoxville, UT Knoxville, UTK, or UT) is a public sun- and land-grant university in Knoxville, Tennessee, United States. Founded in 1794, two years before Tennessee became the 16th state, it is the flagship campus of the University of Tennessee system, with ten undergraduate colleges and eleven graduate colleges. It hosts almost 28,000 students from all 50 states and more than 100 foreign countries. In its 2019 universities ranking, "U.S. News & World Report" ranked UT 115th among all national universities and 52nd among public institutions of higher learning. Seven alumni have been selected as Rhodes Scholars. James M. Buchanan, M.S. '41, received the 1986 Nobel Prize in Economics. UT's ties to nearby Oak Ridge National Laboratory, established under UT President Andrew Holt and continued under the UT–Battelle partnership, allow for considerable research opportunities for faculty and students.
The first prize in economics was awarded in 1969 to Ragnar Frisch and Jan Tinbergen "for having developed and applied dynamic models for the analysis of economic processes". In 2009, Elinor Ostrom became the first woman awarded the prize.
The Central Bank of Trinidad and Tobago is located in the Eric Williams Financial Complex. The complex consists of the central bank auditorium and two sky-scrapers, locally known as the Twin Towers. The first tower houses the Central Bank of Trinidad and Tobago and the second tower houses the Ministry of Finance. It was only the second Central Bank to be established in the English-speaking Caribbean, the first being the Bank of Jamaica which was established in 1960.The Central Bank of Trinidad and Tobago undertakes many functions in its day-to-day operations. The Central Bank of Trinidad and Tobago was established by an Act of Parliament on December 12, 1964. In particular, the Bank's main responsibilities are to issue and redeem currency; maintain monetary and financial stability; act as banker to the government as well as the commercial banks and protect the external value of the Trinidad and Tobago Dollar (TT Dollar).
Tunisia is known for economic and political stability, its highly educated workforce, while Islamic radicalism is weak. Tunisia does not have the resource curse of oil or mineral deposits that often determine instability. From 2000 to 2009, Tunisia grew at an annual rate of 5.2% and its per capita income of about $8,300 (in PPP terms) in 2009 was second only to Lebanon among the oil-importing MENA countries. The stability of the Tunisian Dinar and historically low inflation in Tunisia are positive indicators for its potential development of financial services. Inflation was 4.9% in FY 2007-08 and 3.5% in FY 2008-09. The Tunisian Dinar was less volatile in 2000-2010 than the currencies of its oil-importing neighbors, Egypt and Morocco.
Notable contributions came from Paul Samuelson, Ronald Jones, and Jaroslav Vanek, so that variations of the model are sometimes called the Heckscher-Ohlin-Samuelson model or the Heckscher-Ohlin-Vanek model in the neo-classical economics.
Trinidad and Tobago entered a currency union with other Caribbean nations after World War II. The currency of the union (see next paragraph) was replaced by the modern Trinidad and Tobago dollar in 1964, two years after the nation's independence in 1962. The Trinidad and Tobago dollar was launched, and had become the sole currency by 1967.
Leonard Trelawny Hobhouse (8 September 1864 – 21 June 1929) was a British liberal political theorist and sociologist, who has been considered one of the leading and earliest proponents of social liberalism. His works, culminating in his famous book "Liberalism" (1911), occupy a seminal position within the canon of New Liberalism. He worked both as an academic and a journalist, and played a key role in the establishment of sociology as an academic discipline; in 1907 he shared, with Edward Westermarck, the distinction of being the first professor of sociology to be appointed in the United Kingdom, at the University of London. He was also the founder and first editor of "The Sociological Review". His sister was Emily Hobhouse, the British welfare activist.
Tobin was born in Mission Hill, Boston, Massachusetts on May 22, 1901. Deeply rooted in the highly politicized Irish Catholic community, he was the oldest of four children of James Tobin, a carpenter, and Margaret Daly. He graduated from Boston College and worked for Conway Leather and New England Telephone before entering politics as a protégé of the legendary James Michael Curley. Tobin was elected to the Massachusetts House of Representatives at the age of 25 and served from 1927 to 1929.
John Geanakoplos (born March 18, 1955) is an American economist, and the current James Tobin Professor of Economics at Yale University.
James Tobin married Elizabeth Fay Ringo, a former M.I.T. student of Paul Samuelson, on September 14, 1946. They had four children: Margaret Ringo (born in 1948), Louis Michael (born in 1951), Hugh Ringo (born in 1953) and Roger Gill (born in 1956). In late June, 2009, the family announced via a private email that Tobin's wife had died at the age of 90.
He was born in London, the son of James Tobin Sr. of Nevis, identified tentatively in the ODNB with the sea captain James Tobin (1698–1770), as given in "Caribbeana". Educated at Westminster School, he took articles as a solicitor. After a period in Nevis, he returned in 1784 to Bristol. He was in business there, with John Pretor Pinney, and advocated for the planters' view of slavery. He was a member of the Bristol West India Association.