James Tobin

“Don't put all your eggs in one basket.”

“The purpose of the tax is to introduce a bit of sand into the well-greased wheels of international finance.”

“The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes from the unknown. Inflation is a policy.”

“The whole purpose of the tax is to make short-term speculation less profitable.”

“The greatest invention of the 20th century was the insurance principle.”

“The bad news is that the economy is still stagnant. The good news is that the politicians are finally starting to realize it.”

“We're throwing more and more of our resources, including the cream of our youth, into financial activities remote from the production of goods and services...activities that generate high private rewards disproportionate to their social productivity.”

“There are two kinds of economists: those who want to make the rich richer, and those who want to make the poor richer.”

“A commercial banker is a person who is willing to lend you money provided you can prove you don't need it.”