Donor Stanley Cohn

Former Professor Supports Binghamton Through Lifetime Gift, Bequest
It's been more than a quarter of a century since the late Stanley H. Cohn retired as a Binghamton University professor — but a generous gift he made during his lifetime, followed by a bequest from his estate, has helped the University's economics program become one of the nation's best.

Cohn, who died in 2005 at 82, came to Binghamton in 1966 and remained until his retirement in 1986. Planned economics — particularly Soviet economics — was his primary research focus throughout his career, though in later years his interests turned to the economics of health and aging.

"The focus of public policy discussion with regard to aging," said Cohn in the late 1990s, "has been the economic viability of Social Security and Medicare. The issue of long-term care has not been confronted…only one-fourth of the 65-or-older population meets the income and asset guidelines for our spectrum of continuing care services.

"Therefore, the provision of high-quality senior care services becomes a public policy challenge."

Cohn made these comments — and gained this perspective — after leaving New York and moving into a retirement community in his native Oregon. As the result of this new interest, as well as his affection for the University and its students, he made a gift in March 1998 to heighten awareness of economics and aging.

The money was used for "programs and conferences," said Edward Kokkelenberg, professor of economics at Binghamton and a colleague of Cohn's. The gift also funded a visiting professor in health economics for one semester.

"The University didn't have the resources to add these types of programs," said Kokkelenberg. "It was very worthwhile."

Cohn, a World War II veteran, earned his doctorate in economics in 1952 at the University of Chicago. Prior to coming to Binghamton, he served with the International Monetary Fund and the Central Intelligence Agency, and was a consultant with the U.S. Bureau of Labor Statistics, the Stanford Research Institute and the Swedish Ministry of Defense.

At Binghamton, Cohn developed "an affection for his career as a teacher," said Clifford Kern, professor and chairman of the University's economics department and one of Cohn's colleagues. "He wanted to enhance the undergraduate experience for students."

With this in mind, Cohn specified that his bequest be used to provide "scholarships and other support of economics majors," leaving it up to the economics department to develop "something in the spirit of the bequest's intentions." After consideration, it was decided the endowment's earnings would fund undergraduate economic research.

"Dr. Cohn himself remained very active in research, which added to the stature of the University," said Kern. "We will focus on students who are considering a career in economics — those who are interested in what research is about.

"When you are not just consuming the research of others, but producing research on your own, there is a whole other level of understanding."

"Many Ivy League schools are getting their undergraduate economics students involved in research," said Kokkelenberg. The future availability of this type of research will rank Binghamton University's economics program among the nation's top tier.

"We'll join the ranks of other top-notch schools doing this for their students, and we'll be able to offer the same kinds of experiences. It's very hard to improve your economics program without this sort of thing," Kokkelenberg said.

Decades after his retirement, and two years after his passing, Cohn's lifetime gift and his bequest allow him to continue to make a difference.