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Why was James Tobin awarded the Noble Prize in Economics in 1981?

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Why was James Tobin awarded Noble Prize Economics in1981?Name: James Tobin.
Country: United States.
Date of Birth: March 05, 1918.
Died: March 11, 2002.
Education: AM (Master of Arts in Latin: Magister Artium or Artium Magister) degree from Harvard University
Subjects Of Study: Financial market investment.
Profession: Sterling Professor of Economics at Yale and Economist.
Popularly Known: Pioneering the Tobin Tax, a levy on foreign exchange transactions to reduce currency speculation.
Noble Prize Year: Nobel Prize for Peace in 1981, for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices.

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