Anna Jacobson Schwartz is in all probability best-known today equally co-author alongside Milton Friedman of the 1963 classic,
A Monetary History of the United States. But her extraordinary career covered in addition to then much more. The
Fall 2013 newsletter of the Committee on the Status of Women inward the Economics Profession (CSWEP) publishes 8 remembrances of Schwartz from a memorial service held at the National Bureau of Economic Research inward Apr 2013. Here are a few of the points that caught my eye.
After Schwartz graduated from Barnard College at historic catamenia 18, in addition to completed her masters' bird at Columbia a twelvemonth later, she worked for several years at the U.S. Department of Agriculture in addition to the Social Science Research Council earlier joining the inquiry staff at the National Bureau of Economic Research inward 1941. As James Poterba writes: "With the exception of a brief catamenia inward the early on 1980s when she served equally Staff Director for the U.S. Commission on the Role of Gold inward the Domestic in addition to International Monetary Systems in addition to was the primary writer for the kickoff mass of the commission’s
report, Anna remained an NBER affiliate for the side yesteryear side 71 years. At the fourth dimension of her death, she had the longest NBER affiliation of whatever researcher—by several decades. Although Anna held a issue of adjunct teaching positions during the course of education of her career, the NBER was ever her primary
affiliation." As Allan Meltzer wrote: "I desire to tell that the fact that Anna never received an twenty-four hours of the month at whatever major academy is the clearest instance I know of discrimination against women inward the past."
Several of the speakers remembered her at 1 time in addition to no-nonsense intellectual style, over decades of papers, books, in addition to NBER seminars. Here's a even from William Poole nearly a give-and-take alongside Schwartz inward mid-2008:
"I argued alongside her that the U.S. economic scheme was inward fact doomed to fiscal crisis inward early on 2006 when Ben Bernanke took office. By that time, almost all the rotten subprime newspaper had been created in addition to much had been included inward risky portfolios of undercapitalized fiscal firms. Thus, I argued to Anna, if the Fed had allowed Bear Stearns to fail, the crisis would have got acquire acuate at that fourth dimension instead of half dozen months after when Lehman failed. Her response, inward the mildly disapproving simply friendly tone she ever used alongside friends, was, “Ah, Bill. But the economic scheme volition proceed after the fiscal crisis. What the Fed has done, which would non have got much affected the course of education of the fiscal crisis anyway on your ain argument, has created a serious long-run problem. Given Lehman, in addition to weak populace understanding, the Fed has created the presumption that whatever large fiscal work solid inward problem volition survive bailed out. That presumption volition survive alongside us for many years, long after the retentivity of the financial crisis has dimmed.” ...
Of course, she was right—very right. She non solely understood the facts of economical history simply also why history developed the means it did. ... She also understood that it could have got decades to undo an unwise policy decision. And hither nosotros are. What the populace “knows,” what the marketplace seat “knows,” and what Congress “knows,” is that letting Lehman neglect was a mistake. The at nowadays firmly embedded presumption inward authorities in addition to marketplace seat behavior—the presumption of a bailout of whatever large fiscal work solid inward trouble—did non have got to survive this way."
(
Here's a Wall Street Journal article from Oct 2008 reporting Schwartz's views.)
And a issue of the speakers remembered her honey of work, balanced alongside her commitment to household unit of measurement in addition to personal life. Michael Bordo, who co-authored xxx articles in addition to ii books alongside her, noted: "What I retrieve most nearly Anna is how much she loved her work. Her whole life was organized around going to the office. She officially retired from the Bureau when she was 65, simply she didn’t halt working until she was 94. She went into the Bureau every twenty-four hours when she was inward her eighties in addition to nineties, in addition to she even in addition to then set inward a total eight-hour day. ... Yet she was a balanced person. She had a swell family—Isaac, a caring married adult man alongside a swell feel of humor, who died inward 1999, 4 children, in addition to many grandchildren in addition to swell grandchildren, in addition to they used to come upward into New York to meet her often."
Eloise Pasachoff, 1 of Schwartz's grandchildren, captured this topic of a life lived full-speed ahead specially nicely:
"Notwithstanding the pop maxim to the contrary, it is possible to acquire to your deathbed in addition to wishing yous had spent to a greater extent than fourth dimension at the office. Not because yous don’t wishing you’d had to a greater extent than fourth dimension alongside your family, too; non because yous don’t have got a total in addition to rich in addition to interesting personal life; simply because what you do all twenty-four hours long at operate grips yous alongside a passion yous desire to pursue. There are to a greater extent than problems to solve, to a greater extent than questions to answer, to a greater extent than cases to build, to a greater extent than theories to debunk. Here was the most reliable conversation starter alongside my grandmother: “What are yous working on?” And inward her answer, she brooked no nonsense. ... What else did she desire to do? She wanted to operate total fourth dimension in addition to raise four kids. So she got help alongside first-class childcare. ... I learned from my grandmother ... to have got fourth dimension to have got pleasance inward the pleasures of life. My grandmother spent several hours every weekend listening to the Met’s opera broadcast. She loved a proficient Trollope novel. She made certain she didn’t miss a twenty-four hours of the New York Times or the Wall Street Journal. She relished her favorite foods. For a while, when I was living close her, nosotros had dinner 1 time a week, in addition to it was wonderful to consume alongside someone who took such enjoyment over a meal. She loved trout; she loved stuffed cabbage; she loved pineapple upside-down cake; she loved rice pudding. And I loved spending fourth dimension alongside this amazing adult woman who had such a rich in addition to total in addition to ongoing life.
I intend I have got a bigger lesson, in addition to it’s nearly what they telephone telephone “work-life balance.” Except when I intend nearly my grandmother’s example, I desire to telephone telephone it “work-life joy.”
I similar the thought of "work-life joy" really much.
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