James Tobin quotes - page 2

Markowitz's main interest is prescription of rules of rational behaviour for investors. (James Tobin)
Keynesian economics was, in the context of those times, essentially conservative. View quote
James Tobin
A forthcoming book by Harry Markowitz, Techniques of Portfolio Selection, will treat the general problem of finding dominant sets and computing the corresponding opportunity locus, for sets of securities all of which involve risk. Markowitz's main interest is prescription of rules of rational behaviour for investors; the main concern of this paper is the implications for economic theory, mainly comparative statics, that can be derived from assuming that investors do in fact follow such rules. View quote
James Tobin
For me, growing up in the 1930s, the two motivations powerfully reinforced each other. The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters. The crisis triggered a fertile period of scientific ferment and revolution in economic theory. View quote
James Tobin

James Tobin

Occupation: American Economist
Born: March 5, 1918
Died: March 11, 2002
Quotes count: 29
Wikipedia: James Tobin