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Dr. Bailey said she had been impressed with Mr. Carter’s vetting process.
“I was one of four Republican women on the list,” she told The Asbury Park Press of New Jersey in 1977. “What I liked was that the president didn’t want to appoint me until he had met me. He wanted to see if I had the energy to do the job and the courage it takes to make tough decisions.”
The Stevens Institute of Technology, where she earned a master’s degree in 1966, gave Dr. Bailey a Distinguished Alumni Award in 2015, calling her “the embodiment of trailblazing.”
Elizabeth Ellery Raymond was born on Nov. 26, 1938, in Manhattan. Her parents, Irving and Henrietta Dana Raymond, were both college professors.
Dr. Bailey graduated from Radcliffe College in 1960 with an economics degree. She married James Bailey, a computer scientist who became a professor at Pace University, and they had two sons, James and William, before divorcing in the 1970s. James had an intellectual disability, leading Dr. Bailey and Dolores Turner, another parent of a disabled child, to found the Harbor School.
Dr. Bailey began working in the technical programming department at Bell Laboratories shortly after graduating in 1960. A 2017 profile of her in The Princeton Alumni Weekly described her job as “senior technical aid on an antimissile missile program, calculating trajectories of flying weapons and their debris.” But she was more interested in economic theory.
She had stories about the sexism she encountered at the company — for instance, being mistaken at high-level meetings for a secretary who was there to take notes. She eventually got Bell to provide the support she needed to earn her advanced degrees, and she ended up helping to found Bell’s economics research group and leading it until 1977. In the meantime, her doctoral thesis at Princeton became a book, “Economic Theory of Regulatory Constraint” (1973), a well-regarded text in the field.
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