10. Elizabeth E. Bailey
Bailey grew up in New York City, where she graduated from the Chapin School in 1956. She received her bachelor’s degree from the Radcliffe College, a master’s degree from Stevens Institute of Technology and her Ph.D. from Princeton University, where she was the first woman ever to receive a doctoral degree in economics. Bailey was the first woman appointed as a department head at Bell Laboratories (she led the economic research section there). Elizabeth worked in technical programming and economic research at Bell Laboratories from 1960 to 1977.
Bailey joined The Wharton School in July 1991, having served from July 1990 to June 1991 as a professor at Carnegie Mellon University, and as a visiting scholar at the Yale School of Organization and Management. She was elected a Fellow of the American Academy of Arts and Sciences in 1997.
She is still incredibly busy and active despite her many years of outstanding contribution and service. She serves on the Board of Directors of TIAA-CREF, Altria, and CSX Corporation and is a trustee of The Brookings Institution and a member of the National Bureau of Economic Research. Elizabeth has also been the Vice Chairmen of Bancroft NeuroHealth since 1989.
Elizabeth’s best-known work is her book: Economic Theory of Regulatory Constraint. Published in 1972, this iconic book is a collector’s item and is still used as a staple reference for economics undergraduates all over the world.
Elizabeth’s achievements and contributions to the fields of economics and organizational management are globally significant and nothing short of legendary.
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