W. Allen Wallis, former Dean of the Chicago Graduate School of Business, former president and chancellor of the University of Rochester, and economic advisor to four U.S. presidents, died Monday, Oct. 12, in Rochester New York, following a stroke.
Wallis, a Professor in Statistics at the business school from 1946 to 1962, served as Dean from 1956 to 1962. Together with James Lorie, Associate Dean, Wallis formulated what is called the Chicago Approach to Business Education, which teaches the principles that underlie business operations and emphasizes research to contribute to solutions to business problems.
Wallis left the University in 1962 to become president of the Universty of Rochester. After retiring from Rochester, he served as Under Secretary of State for Economic Affairs in the Reagan administration.
During his career, he also served under President Dwight Eisenhower as special assistant and under Presidents Nixon and Ford as a member of the National Council on Educational Research and the National Commission on Productivity. He was also chair of the President's Commission of Federal Statistics and of the Advisory Council on Social Security.
He was named Under Secretary of State for Economic Affairs by his long-time colleague and friend George Shultz, former Secretary of State.
Born in 1912 in Philadelphia, Wallis received his B.A. in psychology from the University of Minnesota in 1932. In 1933, he recieved a University Fellowship in Economics at Chicago, where he formed lifelong friendships with future Nobel laureates Milton Friedman and George Stigler.
A memorial service is scheduled for 2 p.m. Friday, Oct. 30, at the Interfaith Chapel on the River Campus at the University of Rochester.