Demonstrates how ideas in economics have shaped business decisions and models, as well as government policies. Discusses the pace of future innovation, how economists think about the world, and the role and importance of markets and their limits.

Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations...