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The Sequel to Eminent Economists , This Book Presents the Ideas Of Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information EMINENT ECONOMISTS II Th e sequel to Eminent Economists , this book presents the ideas of some of the most outstanding economists of the past half-century. Th e contributors, repre- senting divergent points of the ideological compass, present their life philoso- phies and refl ect on their conceptions of human nature, society, justice, and the source of creative impulse. Th ese self-portraits reveal details of the economists’ personal and professional lives that capture the signifi cance of the total person. Th e essays represent streams of thought that lead to the vast ocean of econom- ics, where gems of the discipline lie, and the volume will appeal to a wide array of readers, including professional economists, students, and laypersons who seek a window into the heart of this complex fi eld. Michael Szenberg is Distinguished Professor of Economics and Chair, Business and Economics department, Touro College and University System. He is Distinguished Professor Emeritus, Lubin School of Business, Pace University. Professor Szenberg is the recipient of many awards, including the 2013 John R. Commons Award, 2013 Homer and Charles Pace Award, 1983 Kenan Award for excellence in teaching, and the 1971 Irving Fisher Monograph Award. He also served as the editor-in-chief, Emeritus, of Th e American Economist (1973– 2011). Professor Szenberg is the author or coauthor with Lall B. Ramrattan of more than seventeen books and many journal articles and encyclopedia entries. Lall B. Ramrattan holds a PhD from Th e New School for Social Research. He is an instructor at the University of California, Berkeley. He has published articles in several major journals and has served as an associate editor of Th e American Economist . © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information Eminent Economists II Th eir Life and Work Philosophies Edited by MICHAEL SZENBERG Touro College and University System LALL B. RAMRATTAN University of California, Berkeley Extension © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information University Printing House, Cambridge CB2 8BS, United Kingdom One Liberty Plaza, 20th Floor, New York, NY 10006, USA 477 Williamstown Road, Port Melbourne, VIC 3207, Australia 314-321, 3rd Floor, Plot 3, Splendor Forum, Jasola District Centre, New Delhi - 110025, India 103 Penang Road, #05-06/07, Visioncrest Commercial, Singapore 238467 Cambridge University Press is part of the University of Cambridge. It furthers the University’s mission by disseminating knowledge in the pursuit of education, learning and research at the highest international levels of excellence. www.cambridge.org Information on this title: www.cambridge.org/9781107040533 © Cambridge University Press 2014 This publication is in copyright. Subject to statutory exception and to the provisions of relevant collective licensing agreements, no reproduction of any part may take place without the written permission of Cambridge University Press. First published 2014 A catalogue record for this publication is available from the British Library Library of Congress Cataloging in Publication data Eminent economists II: their life and work philosophies / [edited by] Michael Szenberg, Lall Ramrattan; foreword by Robert Solow. pages cm Includes bibliographical references and index. ISBN 978-1-107-04053-3 (hardback) – ISBN 978-1-107-65636-9 (paperback) 1. Economists – Biography. 2. Economics – Philosophy. I. Szenberg, Michael. II. Ramrattan, Lall, 1951– HB76.E452 2014 330.092´2–dc23 2013027354 ISBN 978-1-107-04053-3 Hardback ISBN 978-1-107-65636-9 Paperback Cambridge University Press has no responsibility for the persistence or accuracy of URLs for external or third-party internet websites referred to in this publication, and does not guarantee that any content on such websites is, or will remain, accurate or appropriate. © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information B’H Once again, to my mother, Sara, who gave birth to me – twice; my father, Henoch, for his wisdom; my sister, Esther, for bringing me to these shores; my two children, Naomi and Avi, and their spouses, Marc and Tova; and my wife, Miriam And most of all to my grandchildren, Elki and now Chaim, Batya, Chanoch, Devorah, Ephraim, Ayala, and Jacob And to the Righteous Anonymous Austrian-German Offi cer who took my immediate family to a hiding place just days before the last transport to Auschwitz, where most of my family perished In Memoriam To my late elder sister, Balwanty Deolall, and brother, Deonarine Ramrattan, who have always directed me on the traditional path © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information No bird soars too high, if he soars with his own wings. William Blake © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information Contents List of Contributors page xi Foreword by Robert Solow xv Preface and Acknowledgments xix I n t r o d u c t i o n 1 Michael Szenberg and Lall B. Ramrattan 1 Being Th ere: An Intellectual Journey 14 Alan S. Blinder 2 Social Norms in Economics and in the Economics Profession 30 Clair Brown 3 P e r s o n a l R e fl ections on My Professional Life 45 John Y. Campbell 4 Gray Eminence? 57 Vincent P. Crawford 5 Biochemist to Economist 72 Paul Davidson 6 Puzzles and Paradoxes: A Life in Applied Economics 84 Angus Deaton 7 Succeeding in Economics 102 Harold Demsetz 8 My Research Strategy 111 Peter Diamond vii © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information viii Contents 9 My Philosophy of Economics, Life, and Everything (Not!) 118 Avinash Dixit 10 Finding a Niche 129 Barry Eichengreen 11 Become an Economist – See the World 145 Jeff rey Frankel 12 Practitioner of the Dismal Science? Who, Me? Couldn’t Be!! 166 Richard B. Freeman 13 One Job, Four Careers 187 Benjamin M. Friedman 14 My Life and Research Strategy 203 John Hull 15 How I Ended Up Being a Multifaceted Economist and the Mentors I Have Had 213 Michael D. Intriligator 16 Searching for My Personal Philosophy 219 Peter B. Kenen 17 Learning about the Evolving International Economy 229 Anne O. Krueger 18 Confessions of a Wellesley FEM 249 Helen F. Ladd 19 God, Ants, and Th omas Bayes 270 Harry M. Markowitz 2 0 Th e Path of a Monetary Economist 286 Frederic S. Mishkin 21 Learning from the Field 316 Elinor Ostrom 22 Order in and through Disorder: Th e Invisible Hand as a Turbulent Regulator 338 Anwar Shaikh 2 3 Th e Education of an Economist 352 Jeremy J. Siegel © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information Contents ix 24 Faith, Science, and Religion 369 Vernon L. Smith 25 My Studies in International Economics 389 Robert M. Stern 26 Sailing into the Wind 404 Myra H. Strober 27 My Life and Work Philosophy 417 Hal R. Varian 28 Scaling Fortress Economics 434 Michelle J. White 2 9 Th e Accidental Economist 448 Marina v. N. Whitman I n d e x 465 © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information Contributors Alan S. Blinder Gordon S. Rentschler Memorial Professor of Economics and Public Aff airs at Princeton University C l a i r B r o w n Professor of Economics and Director of the Center for Work, Technology, and Society at the Institute for Research on Labor and Employment, University of California, Berkeley J o h n Y. C a m p b e l l Morton L. and Carole S. Olshan Professor of Economics at Harvard University Vincent P. Crawford Drummond Professor of Political Economy and Fellow of All Souls College at the University of Oxford and Distinguished Professor Emeritus and Research Professor at the University of California, San Diego P a u l D a v i d s o n Holly Professor of Excellence, Emeritus, at the University of Tennessee in Knoxville Angus Deaton Dwight D. Eisenhower Professor of Economics and International Aff airs at the Woodrow Wilson School of Public and International Aff airs and the Economics Department at Princeton University H a r o l d D e m s e t z Professor Emeritus of Economics at the University of California, Los Angeles Peter Diamond Institute Professor at the Massachusetts Institute of Technology Avinash Dixit John J. F. Sherrerd ’52 University Professor Emeritus of Economics at Princeton University xi © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-04053-3 — Eminent Economists II: Their Life and Work Philosophies Edited by Michael Szenberg , Lall Ramrattan Frontmatter More Information xii Contributors Barry Eichengreen George C.
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