Skip to main content Accessibility help
×
Hostname: page-component-76fb5796d-r6qrq Total loading time: 0 Render date: 2024-04-27T03:25:29.930Z Has data issue: false hasContentIssue false

23 - The Education of an Economist

Published online by Cambridge University Press:  05 June 2014

Jeremy J. Siegel
Affiliation:
University of Pennsylvania
Michael Szenberg
Affiliation:
Touro College, New York
Lall Ramrattan
Affiliation:
Pace University, New York
Get access

Summary

It has always been important for me to understand what motivates individuals to do what they do and formulate a “big picture” of how the world works. In this essay I describe the events that have impacted my life and were important for formulating my philosophy. My philosophy is no “fixed star.” I know that no one, including myself, holds the key to the “Truth,” and, to paraphrase John Maynard Keynes, I am quite willing to change my mind when the facts so dictate. In short, at the same time I am teaching, I am learning; we are all educators who are constantly being educated.

Early Life

My mother, an intellectual who was well read in philosophy, anthropology, and sociology, named me “Jeremy” (an extremely uncommon name for American boys at that time), after Jeremy Bentham, the early-nineteenth-century British philosopher, whom she greatly admired. Bentham was a progressive thinker, arguing against slavery and for women’s rights, and a utilitarian who believed that law should be structured to maximize society’s “pleasures” and minimize its “pains.” Bentham was also a believer in free markets.

Type
Chapter
Information
Eminent Economists II
Their Life and Work Philosophies
, pp. 352 - 368
Publisher: Cambridge University Press
Print publication year: 2014

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Department of Commerce (1966), Long-Term Economic Growth, 1860–1965Washington, DC: US Census Bureau.Google Scholar
Friedman, Milton (1953). “The Case for Flexible Exchange Rates,” in Essays in Positive Economics, 157–203. Chicago: University of Chicago Press.Google Scholar
Friedman, Milton (1962). Capitalism and Freedom. Chicago: University of Chicago Press.Google Scholar
Friedman, Milton and Schwartz, Anna J. (1963). A Monetary History of the United States: 1867–1960. NBER Studies in business cycles no. 12. Princeton: Princeton University Press, reprinted as The Great Contraction, 1929–1933. Princeton: N.J. Princeton University Press, 1965.Google Scholar
Galbraith, John Kenneth (1954). The Great Crash, 1929. Pelican.Google Scholar
Homer, Sidney (1963). The History of Interest Rates. New York: John Wiley.Google Scholar
Kritzman, Mark (2000), Puzzles in Finance: Six Practical Problems and Their Remarkable Solutions. New York: Wiley Investment.Google Scholar
Malkiel, Burton (1973), A Random Walk Down Wall Street. New York: W. W. Norton.Google Scholar
Patinkin, Don (1956) Money, Interest, and Prices, 2d ed. (1st ed. 1956). Evanston (Illinois): Row, Peterson and Company.Google Scholar
Siegel, Jeremy (1972). “Risk, Interest Rates, and the Forward Exchange,” Quarterly Journal of Economics 86, no. 2 (May): 303–309; “Reply,” Quarterly Journal of Economics 89, no. 1 (February 1975): 173–175.CrossRefGoogle Scholar
Siegel, Jeremy (1992). “The Equity Premium, Stock and Bond Returns Since 1802,” Financial Analysts Journal 48, no. 1 (January/February): 28–38; winner of the 1992 Graham and Dodd Scroll Award.CrossRefGoogle Scholar
Siegel, Jeremy (2005). The Future for Investors: Why the Tried and the True Triumph over the Bold and the New. New York: Crown Business, Random House.Google Scholar
Siegel, Jeremy (2008). Stocks for the Long Run: The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies, 4th ed. New York: McGraw-Hill.Google Scholar
Siegel, Jeremy and Shiller, Robert (1977). “The Gibson Paradox and Historical Movements in Real Interest Rates,” Journal of Political Economy 85, no. 5 (October): 891–907.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×