History
The Economist was founded by the Scottish businessman and banker James Wilson in 1843, to advance the repeal of the corn laws, a system of import tariffs. A prospectus for the "newspaper," from 5 August 1843 enumerated thirteen areas of coverage that its editors wanted the newspaper to focus on:
- Original leading articles, in which free-trade principles will be most rigidly applied to all the important questions of the day.
- Articles relating to some practical, commercial, agricultural, or foreign topic of passing interest, such as foreign treaties.
- An article on the elementary principles of political economy, applied to practical experience, covering the laws related to prices, wages, rent, exchange, revenue and taxes.
- Parliamentary reports, with particular focus on commerce, agriculture and free trade.
- Reports and accounts of popular movements advocating free trade.
- General news from the Court of St. James's, the Metropolis, the Provinces, Scotland, and Ireland.
- Commercial topics such as changes in fiscal regulations, the state and prospects of the markets, imports and exports, foreign news, the state of the manufacturing districts, notices of important new mechanical improvements, shipping news, the money market, and the progress of railways and public companies.
- Agricultural topics, including the application of geology and chemistry; notices of new and improved implements, state of crops, markets, prices, foreign markets and prices converted into English money; from time to time, in some detail, the plans pursued in Belgium, Switzerland, and other well-cultivated countries.
- Colonial and foreign topics, including trade, produce, political and fiscal changes, and other matters, including exposés on the evils of restriction and protection, and the advantages of free intercourse and trade.
- Law reports, confined chiefly to areas important to commerce, manufacturing, and agriculture.
- Books, confined chiefly, but not so exclusively, to commerce, manufacturing, and agriculture, and including all treatises on political economy, finance, or taxation.
- A commercial gazette, with prices and statistics of the week.
- Correspondence and inquiries from the newsmagazine's readers.
In 1845 during Railway Mania, The Economist changed its name to The Economist, Weekly Commercial Times, Bankers' Gazette, and Railway Monitor. A Political, Literary and General Newspaper.
It has long been respected as "one of the most competent and subtle Western periodicals on public affairs."
Its logo was designed in 1959 by Reynolds Stone.
In January 2012 The Economist launched a new weekly section devoted exclusively to China, the first new country section since the introduction of a section about the United States in 1942.
Read more about this topic: The Economist
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“Let it suffice that in the light of these two facts, namely, that the mind is One, and that nature is its correlative, history is to be read and written.”
—Ralph Waldo Emerson (1803–1882)