A collection of scholarly essays or articles published in honor of a distinguished academic, usually on the occasion of a retirement, birthday, or other significant milestone.
From German 'Festschrift,' literally 'festival writing,' combining 'Fest' (festival, celebration) and 'Schrift' (writing). German academics developed this publishing tradition in the 19th century, and the word was borrowed into English.
A festschrift is academia's way of saying 'you matter'—colleagues spend months writing essays about your life's work, which is incredibly moving but also slightly awkward when the person is still alive to read it.
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