Economist Walter Oi, variously described as eccentric, quirky, legendary, one of a kind, and, most eloquently, ""the curator of a unique persona that was a living work of art,"" died on Christmas Eve at the age of 84. Oi, who was the Elmer B. Milliman Professor Emeritus of Economics at the University of Rochester in New York, began his career with the University of Washington Department of Economics in 1962 after completing his doctorate at the University of Chicago in 1961.
As newly-minted PhDs just hired by the UW themselves at the time, Professors Judith Thornton (PhD 1960, Radcliffe) and Yoram Barzel (PhD 1961, University of Chicago) remember Oi as witty, kind, and possessed of a razor sharp mind particularly intent on manipulating seemingly irrelevant trivia into concise illustrations of economic analysis. He went on to teach at Northwestern University and Iowa State University before settling at Rochester, where he did much of his influential work, including his analysis of the hidden costs of the military draft. This work ultimately resulted in the end of conscription and Oi's appointment to a Presidential Commission on an All-Volunteer Armed Force.
A Japanese-American internee with his family during World War II, Oi lost his vision completely as a young man, making his accomplishments all the more noteworthy. He was elected a Distinguished Fellow of the American Academy of Arts & Sciences, the American Economic Association, the Society of Labor Economists and the Econometrics Society. In 2000, Oi received the Secretary of Defense Medal for Outstanding Public Service for his work leading to the adoption of an all-volunteer military.
- Read an appreciation of Oi's life and work by his Rochester colleague Steven Landsburg: http://www.thebigquestions.com/blog/.
- University of Rochester press release
- David Henderson at the Library of Economics reflections: http://econlog.econlib.org/archives/2013/12/walter_oi_rip.html