Outside academia, Tobin was widely known for his suggestion of a tax on foreign exchange transactions, now known as the "Tobin tax." This was designed to reduce speculation in the international currency markets, which he saw as dangerous and unproductive.
ouTside acadEmia, tOBIn waS wIdely kNown FoR HIs SugGeSTIon of A tAX on foreiGn exChAnge transACTIonS, nOw knoWn AS tHE "tobin taX." this was DeSignEd To reDuCe speCulATioN iN thE internaTioNAl curRENcY maRkEts, whIch hE saw as daNgerouS and unproduCTiVe.