Age, Biography and Wiki

Phyllis Ann Wallace was born on 9 June, 1921 in Calvert County, Maryland, U.S., is an American economist (1921–1993). Discover Phyllis Ann Wallace's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is she in this year and how she spends money? Also learn how she earned most of networth at the age of 72 years old?

Popular As N/A
Occupation N/A
Age 72 years old
Zodiac Sign Gemini
Born 9 June 1921
Birthday 9 June
Birthplace Calvert County, Maryland, U.S.
Date of death 1993
Died Place Boston, Massachusetts, U.S.
Nationality United States

We recommend you to check the complete list of Famous People born on 9 June. She is a member of famous economist with the age 72 years old group.

Phyllis Ann Wallace Height, Weight & Measurements

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Phyllis Ann Wallace Net Worth

Her net worth has been growing significantly in 2023-2024. So, how much is Phyllis Ann Wallace worth at the age of 72 years old? Phyllis Ann Wallace’s income source is mostly from being a successful economist. She is from United States. We have estimated Phyllis Ann Wallace's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
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Source of Income economist

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Timeline

1921

Phyllis A. Wallace (June 9, 1921 – January 10, 1993) was an American economist and activist, as well as the first woman to receive a doctorate of economics at Yale University.

Her work tended to focus on racial, as well as gender discrimination in the workplace.

She mentored many students and colleagues.

She was born Annie Rebecca Wallace in Calvert County, Maryland, on June 9, 1921.

She was the first of six children born to John Wallace, a craftsman, and Stevella Wallace.

1939

She attended a well ranked yet segregated high school, Frederick Douglass High School, graduating first in her class in 1939.

Maryland's state University system was segregated.

The only state supported higher education open to Phyllis was Morgan State College.

Afro-American students, like Phyllis were not allowed to attend the all-white University of Maryland.

Phyllis studied economics at New York University and the state of Maryland paid her tuition.

1943

She received her bachelor's degree in economics in 1943, graduating magna cum laude and Phi Beta Kappa.

It was probably in New York that she developed her love of art, architecture and music, particularly vocal music.

One of Phyllis's NYU Professors suggested that Phyllis do graduate work at Yale.

1944

At Yale, she earned a Master's degree in 1944 and a Ph.D in 1948.

Her dissertation was on international sugar agreements.

As a new Ph.D., Phyllis's professional focus was international trade, the subject of her doctoral dissertation.

She returned to New York City as a part-time lecturer at City College of New York (a track to tenure not being open) and a researcher at the National Bureau of Economic Research.

1953

In 1953, Phyllis took a teaching position in the School of Business Administration at the historically-black Atlanta University while maintaining her research relationship with NBER.

1957

In 1957, Phyllis left teaching, pulled by a new opportunity that arose out of the Cold War.

Was the deep south during the Jim Crow era too much for Phyllis or was the pull of family and international research the draw?

The CIA was in recruitment mode and Phyllis had the right combination of economics training and language ability.

She worked at the CIA as an intelligence analyst focusing on the Soviet Union mentoring and befriending many younger CIA employees.

1960

The Civil rights movement of the mid 1960s opened new opportunities.

1964

Title VII of the Civil Rights Act of 1964 led to the establishment of the Equal Employment Opportunity Commission the next year.

The EEOC's mandate: to "ensure equality of opportunity by vigorously enforcing federal legislation prohibiting discrimination in employment" whether on the basis of religion, race, sex, color, national origin, age, or disability.

1966

In 1966, Phyllis became the new Commission's Chief of Technical Studies.

In this job, Phyllis reached out to senior economists and also to young scholars who would go on to distinguished academic careers (Orley Ashenfelter (Princeton), James Heckman (University of Chicago), Ronald Oaxaca (University of Arizona), Lester Thurow (MIT) and Ann Dryden Witte (Wellesley College). Through Phyllis, economists had pathbreaking access to data sets that, when analyzed, advanced economic understanding of employment discrimination.

The most consequential case of Phyllis's EEOC years, EEOC, Hodgson, and U.S. v. AT&T, involved the employment practices of the 23 subsidiary operating companies of AT&T, with nearly 800,000 workers, then the largest private employer in the United States.

AT&T provided enough paper to fill a warehouse.

1969

In 1969, after setting the AT&T case in motion, Phyllis returned to New York to pursue her own deepening research interest in labor markets as a vice president at Metropolitan Applied Research Center, a nonprofit organization founded by Kenneth Clark to focus on the problems of U.S. cities.

At MARC, Phyllis took on the issues of employment discrimination experienced by urban youth, especially young Black women.

1972

Wallace joined the faculty of MIT in 1972 as a visiting professor and remained in a visiting role until she was tenured as full professor in 1974, in the Sloan School.

Her appointment made her the first woman to gain tenure at Sloan.

1973

Analysis of the data resulted in a landmark settlement in January 1973 that provided for payment of back wages and benefits to women and minority AT&T employees.

It also opened new jobs and career paths for women and minorities at AT&T.

1976

Phyllis edited a book of articles on the AT&T case, Equal Employment Opportunity and the AT&T Case, in 1976.

1986

Wallace retired from active teaching in 1986.

To honor her career and impact, scholars in industrial and labor relations and economics from around the world gathered at MIT for a conference in her honor.

In addition, the Sloan School endowed the Phyllis A. Wallace Doctoral Fellows Fund, which provides support for Black students admitted to the School's doctoral program, and the Phyllis A. Wallace Visiting Scholars Fund to provide support for Black visiting scholars at the School.

Phyllis served on a number of corporate and not-for-profit Boards including State Street Bank, TIAA-CREF, Boston Museum of Fine Arts and the Society of Arts and Crafts.