History of the London School of Economics

[1] The School was founded with the initial intention of renewing the training of Britain's political and business elite, which seemed to be faltering due to inadequate teaching and research - the number of postgraduate students was dwarfed by those in other countries.

In 1900, the School became officially recognised as a Faculty of Economics within the much larger University of London in Bloomsbury, and began enrolling students for bachelor's degrees and doctorates in the same year.

At the same time, the LSE began expanding into other areas of social sciences, including, initially, geography (in 1902) and philosophy (in 1903), pioneering the study of international relations, as well as teaching history, law, psychology and sociology.

By 1902, it was apparent the School had and would continue to outgrow its Adelphi Terrace location, and moved to its present campus in Clare Market off the Aldwych and aside Kingsway - not far from Whitehall, in 1902.

Under Beveridge, Friedrich Hayek was appointed as a professor and he brought about the ascendancy of the LSE through his famous debates with John Maynard Keynes.

This led to many student protests, which also involved Lionel Robbins, who had returned to LSE as chairman of governors, having been a member of staff for many years.

This policy is being put into effect by governments all across the world as free market economies continue to deal with wealth inequalities and bettering the welfare of the general population.