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"The crisis triggered a fertile period of scientific ferment and revolution in economic theory."
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"Crisis is Good. Crisis is a Messenger."

"The Industrial Revolution appears to be in its final stages and it will be remembered as a time where industrial stock markets were at historic highs at the same time that many natural processes were shutting down, including the next generation of humans."

"The Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger--but recognize the opportunity."

"The epitome of our life force turns on the seam where our tempered idealistic expectations meet the annealed exigencies fueling the cataclysm of a pressing personal crisis. Many of us do not decipher who we are and what we truly cherish until we experience the terror of an inconsolable loss. Failure and suffering lead to self-scrutiny."
Explore more quotes by James Tobin

"Yale places great stress on undergraduate and graduate teaching. I like teaching, and I do a lot of it."

"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."

"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."

"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."

"At the same time it offered the hope, as it still does, that improved understanding could better the lot of mankind. For me, growing up in the 1930s, the two motivations powerfully reinforced each other."

"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."

"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."

"The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters."

"My father also happened to be an intellectual, as learned, literate, informed, and curious as anyone I have known. Unobtrusively and casually, he was my wise and gentle teacher."
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