James Tobin, Adviser to Kennedy, Dies at 84 Holcomb B. Noble

Dr. James Tobin, a professor emeritus of economics at Yale who was a top adviser in the Kennedy administration and received the Nobel Prize in economics in 1981, died on Monday in New Haven. He was 84 and lived in New Haven. The cause was a stroke, a Yale spokeswoman, Dorie Baker, said. Dr. Tobin was known for applying economic theory to the way people made decisions and for advocating the Keynesian theory of government intervention in the economy. Throughout his career, he battled conservative economists like Milton Friedman, a Nobel laureate at the University of Chicago, who disdained government…