The crisis triggered a fertile period of scientific ferment and revolution in economic theory.
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Other Quotes by "James Tobin"

At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.
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The greatest good fortune of my return to Cambridge in 1946 was that there, in the spring, I met Elizabeth Fay Ringo. We were married a few months later.
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I studied economics and made it my career for two reasons. The subject was and is intellectually fascinating and challenging, particularly to someone with taste and talent for theoretical reasoning and quantitative analysis.
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I was born in Champaign in 1918. From the neighborhood elementary and intermediate schools, I went to the University High School in the twin city, Urbana.
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After the United States entered the war, I joined the Naval Reserve and spent ninety days in a Columbia University dormitory learning to be a naval officer.
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