William Bowen

William G. Bowen was a prominent figure in Business & Economics at Princeton University, serving as Professor of Economics and Public Affairs. He earned a B.A. in economics from Denison University in 1955, where he was Phi Beta Kappa, co-chairman of student government, and Ohio Conference tennis champion. Bowen received his Ph.D. in economics from Princeton University in 1958, with a dissertation titled 'The Wage-Price Issue: A Theoretical Analysis' under adviser Richard A. Lester. Joining the Princeton faculty that year in the Department of Economics, he held a joint appointment in the Woodrow Wilson School of Public and International Affairs. His research focused on labor economics, the economics of education, the economics of the performing arts, and problems of stability and growth. Key publications include 'Performing Arts: The Economic Dilemma' (1966, co-authored with William J. Baumol), a landmark study on the economics of culture; 'The Economics of Labor Force Participation' (co-authored with T. A. Finegan); 'Economic Aspects of Education'; and 'The Shape of the River: Long-Term Consequences of Considering Race in College and University Admissions' (1998, co-authored with Derek Bok), a seminal work on affirmative action.

Bowen advanced to provost in 1967, overseeing the transition to coeducation, expanded financial aid, and outreach to underrepresented students. Elected Princeton's 17th president in 1972 at age 38, he served until 1988, tripling the endowment from $625 million to over $2 billion, establishing the residential college system, creating departments in comparative literature, molecular biology, computer science, electrical engineering, and programs in women's studies, applied mathematics, population studies, and the ancient world. He grew the faculty by 63 percent and established 46 endowed professorships. Bowen continued teaching Economics 101 even as president. Post-Princeton, he led the Andrew W. Mellon Foundation from 1988 to 2006, founding JSTOR. His honors include the National Humanities Medal (2012), José Vasconcelos World Award of Education (2008), and Madison Medal (1994). Bowen's scholarship and leadership profoundly shaped higher education policy and practice.