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Concept
History of the London School of Economics
Résumé
The history of the London School of Economics dates from 1895, when the School was founded by Fabian Society members Sidney and Beatrice Webb, Graham Wallas, and George Bernard Shaw, with funding provided by private philanthropy, including a bequest of £20,000 from Henry Hunt Hutchinson to the Fabian Society.
Supposedly the decision to found the school was made at a breakfast party on 4 August 1894. All believed in advancing socialist causes by reformist rather than revolutionary means, and the LSE was established to further the Fabian aim of bettering society, focusing on research on issues of poverty, inequality and related issues. This led the Fabians, and the LSE, to be one of the main influences on the UK Labour Party.
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. A year before the founding, the British Association for the Advancement of Science pushed for the need to advance the systematic study of social sciences as well. In fact, Sidney and Beatrice Webb used the curriculum of the Institut d'Etudes Politiques de Paris (best known as "Sciences Po"), which covered the full range of the social sciences, as part of their inspiration for moulding the LSE's educational purpose. LSE was opened in October 1895 at No. 9 John Street, Adelphi, originally as a night school to bring higher education to the working classes.
The School expanded rapidly and was moved along with its newly established library, the British Library of Political and Economic Science to No. 10 Adelphi Terrace in September 1896, continuing to expand through the next couple of years thanks to Shaw. In 1902, The Coefficients dining club was regularly meeting in the Library, and they affected the development of LSE along with the Fabians and the Suffragettes movement (who also first met at LSE).
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