Yesterday’s mail from the journals included one rejection, one acceptance and one revise-and-resubmit. Not a triumphant day, but I was happy enough, since major economics journals often have rejection rates of 90 per cent or more, and revise-and-resubmits generally lead to acceptance in the end.
As a result of this process, a big part of an academic’s research life consists of dealing with rejections. I gave up counting them after the first hundred or so, and it’s water off a duck’s back to me now, but this is something people starting out in academic life often find very hard to deal with. I can’t say I find the system satisfactory, but I don’t have an adequate alternative to offer.
fn1. The same is true in quite a few other disciplines, though not all.