James Tobin - the 1981 Nobel laureate in economics - is one of the principal figures among contemporary American economists. This new collection of his professional papers contains his most recent work, written mainly since 1974. In a period marked by revisionism in economic theory and retrenchment in the public goals of economic policy, Tobin remains committed to the standard he has upheld throughout his professional life. He is an "eclectic Keynesian"...