Leading Scholar and UW Alumnus Willard T. Carleton Has Died
Willard Tracy Carleton MA’61, PhD’62, a leading scholar and retired professor in economics and finance, passed away near his home in Tucson, Arizona, on September 7. At 90, he lived his final moments surrounded by family.
Willard left behind an extraordinary legacy of scholarship. He was born in Boston, MA, in 1934. After surviving the ravages of polio at the age of 15, he went on to lead a life of accomplishment and carved a distinguished path through academia.
He came to Tucson in 1984 after a long and storied teaching career, most notably at the Amos Tuck School of Business Administration at Dartmouth College — the latter also his undergraduate alma mater — and at the University of North Carolina at Chapel Hill, where he was a William R. Kenan, Jr., Professor of Business Administration. He also taught at the University of Wisconsin — where he earned his PhD — New York University, and Northwestern University. He rounded out his academic career in Tucson, where he taught at the College of Business and Public Administration at the University of Arizona before retiring in 2001. His children remember him for his geniality and unfaltering kindness toward friends, employees, and even perfect strangers, and look back fondly on Thanksgivings at which they shared the dinner table with his students.
Over the course of his time in academia, Willard stayed busy: He edited journals Financial Management and the Journal of Finance, headed up the Financial Management Association, and served on the board of the College Retirement Equities Fund. He authored a range of influential papers and several books, including Corporate Finance: Concepts and Applications and A Theory of Financial Analysis.
He brought the same vigor to his role as a Trustee at the Teachers Insurance and Annuity Association of America, which he first took on in 1984. He was also an impassioned supporter of the Democratic Party, women’s rights groups, and environmental nonprofits.
Willard was intensely curious: an avid reader, critical thinker, and vibrant storyteller. He loved classical music, good food, and the crossword. He had a sharp memory and could recite passages from books he’d read years ago. His grandchildren remember getting to know him over games of backgammon. He came from a large family, was unwavering in his devotion to them, and was fascinated by family history – some of his final days were spent researching and compiling a chronology of his lineage.
He is survived by his wife of 29 years, Loomis; brother Rick; cherished children Jim, Sarah, Leslie, and Julie; and beloved grandchildren Ethan, Dylan, Audrey, Liam, Felix, Amelie, and Nathaniel.
A celebration of life is being planned.
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