An interview with Michael Szenberg, an American Economist.

Bosshardt, William D.

Michael Szenberg was the editor-in-chief of The American Economist for more than 70 issues, from the spring of 1975 until now. Under his guidance, The American Economist became one of the most widely known journals in the profession. Here, the current editorial staff pays a brief tribute to Michael by providing a glimpse into the man behind the journal.

Michael received his Ph.D. from the City University of New York in 1970. His dissertation on the Israeli diamond industry won the 1971 Irving Fisher Monograph Award whose judges included Maurice Allais, Kenneth Boulding, Milton Friedman and Paul Samuelson. Michael has published extensively over his career in many areas, but is perhaps best known for his interest in the biographies of prominent economists. He has edited a number of books, such as "Eminent Economists, Their Life Philosophies" (Cambridge University Press, 1992) and "Passion and Craft, Economists at Work" (Michigan University Press, 1998), in which prominent economists such as Paul A. Samuelson explain their life and work philosophies as well as provide anecdotes that shaped their lives. In 2008, researchers from Tufts University created a Social Science Library selecting outstanding articles in Anthropology, Economics, History, Philosophy, Social Psychology, Sociology and Political Science. Tufts University selected 8 articles from The American Economist, all of which are biographical essays edited under Michael's guidance.

The new editorial staff of The American Economist had some questions for Michael about his time at The American Economist as well as his passion for biographies and teaching.

When asked, Which article published in The American Economist stands out in your mind as being the most interesting to you personally?, it is perhaps not surprising that Michael directed us to a biographical piece, one that created uproar, as described in his article in the American Journal of Economics and Sociology. (1)

"Early in 1988 Sir Alan Waiters, who until recently the personal economic advisor to the British Prime Minister Margaret Thatcher, accepted my invitation to contribute an essay on his life philosophy to be featured in The American Economist ... Sir Alan Walters was opposed to the plan of Nigel Lawson, Chancellor of the Exchequer, to integrate Britain into the European Monetary System. The debate simmered between the two protagonists for some time, but the lifting in October 1989 by the Financial Times of a passage from Walter's essay prior to its publication in The American Economist propelled the disagreement onto the front pages of British papers ... Rumors regarding the contents of the essay were spreading as many reporters felt it might contain additional bombshells ... I was inundated by TV and newspaper reporters requesting interviews, additional information and interpretations of Waiters' position ... In the midst of the controversy, I tried to link the two worlds [academic press and mass media] by releasing Waiter's essay ... I hoped this would calm the political atmosphere ... It was too late, however. On the same day, both officials submitted their resignations, and several key Cabinet ministers were reshuffled." (p. 295)

Your love of biographies is apparent in The American Economist. The journal has included many essays by prominent economists as well as essays memorializing economists. You have also edited volumes, such as Reflections of Eminent Economists (Edward Elgar Press, 2004), that allow the reader insight into the lives and thoughts of many economists. What would you like for us to take away from these essays?

"What you learn is attitude towards research. The first thing you learn is humility. The second thing is the importance of collaboration with others. You know it is interesting that there are people who are afraid to share anything--even their ideas. But it is the opposite--the more you share the more protected you are. If you have two, three other people who you share with what you are doing and you do it together, it is yours. Kenneth Arrow--do you know how many people he has collaborated with--60 people. It is unbelievable.

Something else has come to mind. Maurice Allais, the Nobel Prize winner from France. I could not believe how many revisions of a paper he sent me--I forget now--maybe eight. This was before the computer. In fact, I show this to my students. I also show my students the last page of Hemmingway's "A Farewell to Arms." He revised it 60 times. When I show my students the cream of the cream of scientific activity or literature--60 times revising one page--I tell them it should humble them. It humbles me.

Finally, Sitzfleisch. Charles Kindleberger said it means "keep your ass to the chair." In other words, if you sit and you work something will come ... but if you are here, there, running around, nothing will happen."

The American Economist contains numerous articles related to the teaching of economics, which effects your own passion for teaching. Your teaching philosophy (2) says that your two objectives can be described by: "My objective is to try not only to raise the intellectual level of every student, but also to widen at the same time the differential in he achievement level between the average and the most talented students." How do you accomplish his in your classroom?

"The first part of my philosophy occurs in the classroom. Initially, you cannot distinguish among students. The second part involves a lot of work outside the classroom. But first you have to identify the most talented students. I do this by giving the students a clean sheet of paper. I tell them, 'Put everything down. Close your eyes. I want you to write about yourself in five sentences and no more.' And they will write. And I see immediately who the top students are and who are not top students. After that, I meet with those top students on a separate basis outside the classroom."

Do you see a special role for The American Economist as a publication of the profession's honor society?

"You have to think outside of the box--things the top journals will not be interested in or don't know about. This is how biographies came along. Before I started, I explored--did anyone do it? No. Nothing. Here is a completely new field.

Recently, in the Spring 2009 issue, I had another idea. When the financial crisis loomed, it hit me. How about casting a religious perspective on it? I wrote an overview and had a rabbi, a Muslim, two Christian perspectives (Catholic and Protestant) and a Hindu write--all economists. And all of them provided assessments on the economic crisis from their respective religious standpoint."

You have an interesting motto that you share with everyone you have rejected at The American Economist.

"It is bad enough that you are rejected. You can reject an article in a way that does not kill somebody. Everyone faces rejection. Galbraith said 'my articles were never rejected.' So Paul Samuelson wrote back to me "he has a very short memory.' There is no one that has not been rejected.

My motto in life is 'rejections energize me.' If you Google 'rejections energize me' you will get to my name. Melinda Beck, a columnist of The Wall Street Journal, wrote me 'Would you kindly tell me how you arrived at this motto?' So I was thinking, I did not know. Then I came to a realization during a lecture I delivered at Bloomsburg University titled 'Nature does not tolerate imbalances.' The lecture emphasized economic dimensions. So I now have the answer, 'If nature does not tolerate imbalances, then it means you should invite rejections because the more rejections one has, the more acceptances will come.' So you have it ... it is good to tell students rejections embody a wonderful life lesson. Everyone is rejected. The moral is to recognize that rejections have the potential to spur one's efforts to aspire to higher levels of achievement.

Have you seen my rejection letter?"

Professor--:

Attached please find the referee's report on your submission. He/she find that the paper is well written, yet does not feel that it offers anything novel to warrant publication. I hope this does not discourage you from future submissions. All of us face rejections. I have a motto which I transmit to my friends and students and I am guided by it as well, 'Rejections energize me.' It is good to remember that as a famous study has found, successful people face more rejections than unsuccessful people.

Best wishes and kindest regards,

Michael

Notes

(1.) Szenberg, Michael. 1990. The Waiters-Lawson Affair and the Two Worlds of Communication:

A Collision Course. American Journal of Economics and Sociology, 49(3), pp. 293-96.

(2.) Szenberg, Michael. 2011. Passion and Craft, Service and Teaching: The Social Responsibility of Scholars: A Personal Perspective. <http://webpage.pace.edu/mszenberg/teachingPhilos.htm>

by William D. Bosshardt, Florida Atlantic University