biography
pronunciation:
[tohbin]
| sex:
| male
|
| lived:
| (1918–2002)
|
| biography:
| Economist, born in Champaign-Urbana, Illinois, USA. He studied at Harvard and, following wartime service in the US Navy, went on to teach there. In 1955 he became a professor at Yale, later serving as a member of President Kennedy's Council of Economic Advisors (1961–2). His research activities extended, developed, and refined Keynesian ideas concerning money demand, inflation, consumption, and saving, and elaborate on the roles of monetary and fiscal policies. In 1981 he was awarded the Nobel Prize for Economics, primarily for his ‘portfolio selection theory’ of investment. |
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