Editing London School of Economics (section)

=== 20th century ===
The school joined the federal [[University of London]] in 1900 and was recognised as a Faculty of Economics of the university. The University of London degrees of [[Bachelor of Science|BSc]] (Econ) and [[Doctor of Science|DSc]] (Econ) were established in 1901, the first university degrees dedicated to the social sciences.<ref name="LSEHistory1895" /> Expanding rapidly over the following years, the school moved initially to the nearby 10 Adelphi Terrace, then to Clare Market and Houghton Street. The foundation stone of the Old Building, on Houghton Street, was laid by [[George V|King George V]] in 1920;<ref name="LSEHistoryAbout" /> the building was opened in 1922.<ref name="LSEHistory1895" />

The school's arms,<ref name="PlantArms">{{cite web|first = Arnold|last = Plant|author-link = Arnold Plant|title = File:"Coat of arms of the London School of Economics and Political Science"|url = http://beginnings.ioe.ac.uk/1-6%20original.jpg|archive-url = https://web.archive.org/web/20100531073327/http://beginnings.ioe.ac.uk/1-6%20original.jpg|url-status = dead|archive-date = 31 May 2010|publisher = Institute of Education|access-date = 23 July 2009}}</ref> including its motto and beaver mascot, were adopted in February 1922,<ref name="IOEBeginnings">{{cite web|title=London School of Economics |url=http://beginnings.ioe.ac.uk/begslse.html |work=Beginnings: The History of Higher Education in Bloomsbury and Westminster |publisher=Institute of Education |access-date=23 July 2009 |url-status=dead |archive-url=https://web.archive.org/web/20090926011322/http://beginnings.ioe.ac.uk/begslse.html |archive-date=26 September 2009 }}</ref> on the recommendation of a committee of twelve, including eight students, which was established to research the matter.<ref name="LSEBeaverClub">{{cite web|archive-url=https://web.archive.org/web/20090908033808/http://www.alumni.lse.ac.uk/olc/pub/LHE/filemanager/annualfund/giftclubs/beaversclub/default.htm|archive-date=8 September 2009|title = London School of Economics Online Community – Member Services|url = http://www.alumni.lse.ac.uk/olc/pub/LHE/filemanager/annualfund/giftclubs/beaversclub/default.htm|publisher=London School of Economics|access-date =23 July 2009}}</ref> The Latin motto, {{Lang|la|rerum cognoscere causas}}, is taken from [[Virgil]]'s [[Georgics]]. Its English translation is "to Know the Causes of Things"<ref name="IOEBeginnings" /> and it was suggested by Professor [[Edwin Cannan]].<ref name="LSEHistoryAbout" /> The beaver mascot was selected for its associations with "foresight, constructiveness, and industrious behaviour".<ref name="LSEBeaverClub" />
[[File:Friedrich Hayek portrait.jpg|thumb|right|[[Friedrich Hayek]], who taught at LSE during the 1930s and 1940s]]
The economic debate between the LSE and the [[University of Cambridge]] during the 1930s is a well-known chapter in academic circles. The rivalry between academic opinion at LSE and Cambridge goes back to the school's roots when LSE's [[Edwin Cannan]] (1861–1935), Professor of Economics, and Cambridge's Professor of Political Economy, [[Alfred Marshall]] (1842–1924), the leading economist of the day, argued about the bedrock matter of economics and whether the subject should be considered as an organic whole. (Marshall disapproved of LSE's separate listing of pure theory and its insistence on economic history.)<ref>Dahrendorf (1995), p.210-213</ref>

The dispute also concerned the question of the economist's role, and whether this should be as a detached expert or a practical adviser.<ref>Gerard Loot, cited in Dahrendorf (1995), P.212</ref> Despite the traditional view that the LSE and Cambridge were fierce rivals through the 1920s and 30s, they worked together in the 1920s on the London and Cambridge Economic Service.<ref>{{cite journal|url=https://academic.oup.com/cje/article-abstract/41/1/307/2625390/The-London-and-Cambridge-Economic-Service-history?redirectedFrom=fulltext|title=The London and Cambridge Economic Service: history and contributions|last=Cord|first=Robert A.|doi=10.1093/cje/bew020|journal=Cambridge Journal of Economics|date=2016|volume=41|issue=1|pages=307–326|access-date=17 January 2017|archive-date=15 December 2018|archive-url=https://web.archive.org/web/20181215124234/https://academic.oup.com/cje/article-abstract/41/1/307/2625390/The-London-and-Cambridge-Economic-Service-history?redirectedFrom=fulltext|url-status=live}}</ref> However, the 1930s brought a return to disputes as economists at the two universities argued over how best to address the economic problems caused by the [[Great Depression]].<ref name=CambDebate>{{cite web|url=http://cdn.knightlab.com/libs/timeline/latest/embed/index.html?source=0Ah9w-9lcqZALdHdTbmF2MS1iYmtVdmlpX3A5N2VPc0E&font=Georgia-Helvetica&maptype=toner&lang=en&hash_bookmark=true&amp%20-%200#33|title=Debate with Cambridge|work=LSE timeline 1895–1995|access-date=17 January 2017|archive-date=22 October 2020|archive-url=https://web.archive.org/web/20201022145555/https://cdn.knightlab.com/libs/timeline/latest/embed/index.html?source=0Ah9w-9lcqZALdHdTbmF2MS1iYmtVdmlpX3A5N2VPc0E&font=Georgia-Helvetica&maptype=toner&lang=en&hash_bookmark=true&amp%20-%200#33|url-status=live}}</ref>

The main figures in this debate were [[John Maynard Keynes]] from Cambridge and the LSE's [[Friedrich Hayek]]. The LSE economist [[Lionel Robbins]] was also heavily involved. Starting off as a disagreement over whether demand management or deflation was the better solution to the economic problems of the time, it eventually embraced much wider concepts of economics and macroeconomics. Keynes put forward the theories now known as [[Keynesian economics]], involving the active participation of the state and public sector, while Hayek and Robbins followed the [[Austrian School]], which emphasised free trade and opposed state involvement.<ref name=CambDebate/>

During World War II, the school decamped from London to the University of Cambridge, occupying buildings belonging to [[Peterhouse, Cambridge|Peterhouse]].<ref>{{cite web|url=http://www.pet.cam.ac.uk/images/display.html?image=album/hostel/hostel_03.jpg |title=Peterhouse Images |publisher=Peterhouse, Cambridge |access-date=23 July 2009 |archive-url=https://web.archive.org/web/20080529001601/http://www.pet.cam.ac.uk/images/display.html?image=album%2Fhostel%2Fhostel_03.jpg |archive-date=29 May 2008 |url-status=dead }}</ref>

Following the decision to establish a modern [[business school]] within the University of London in the mid-1960s, the idea was discussed of setting up a "Joint School of Administration, Economics, and Technology" between the LSE and [[Imperial College]]. However, this avenue was not pursued and instead, the [[London Business School]] was created as a college of the university.<ref name="management history">{{cite web|url=https://www.lse.ac.uk/management/about-us/history|title=History of the department|publisher=LSE Department of Management|access-date=10 September 2023|archive-date=3 June 2023|archive-url=https://web.archive.org/web/20230603113730/https://www2.lse.ac.uk/management/about-us/history|url-status=live}}</ref>

In 1966, the appointment of Sir [[Walter Adams (historian)|Walter Adams]] as director sparked opposition from the student union and student protests. Adams had previously been principal of the [[University of Zimbabwe|University College of Rhodesia and Nyasaland]], and the students objected to his failure to oppose [[Rhodesia's Unilateral Declaration of Independence]] and cooperation with the white minority government. This broadened into wider concerns about links between the LSE and its governors and investments in Rhodesia and South Africa and concerns over LSE's response to student protests. These led to the closure of the school for 25 days in 1969 after a student attempt to dismantle the school gates resulted in the arrest of over 30 students. Injunctions were taken out against 13 students (nine from LSE), with three students ultimately being suspended, two foreign students being deported, and two staff members seen as supporting the protests being fired.<ref name="LSEHistoryAbout" /><ref>{{cite news|url=https://blogs.lse.ac.uk/lsehistory/2019/02/18/the-lse-troubles-opposing-a-director/|last=Donnelly|first=Sue|date=18 February 2019|publisher=London School of Economics|title=Opposing a Director|newspaper=Lse History |access-date=10 September 2023|archive-date=1 September 2020|archive-url=https://web.archive.org/web/20200901175901/https://blogs.lse.ac.uk/lsehistory/2019/02/18/the-lse-troubles-opposing-a-director/|url-status=live}}</ref><ref>{{cite news|url=https://blogs.lse.ac.uk/lsehistory/2019/03/06/storming-the-gates-and-closing-the-school/|last=Donnelly|first=Sue|date=6 March 2019|title=Storming the gates and closing the School|newspaper=Lse History |publisher=London School of Economics|access-date=10 September 2023|archive-date=16 March 2023|archive-url=https://web.archive.org/web/20230316085923/https://blogs.lse.ac.uk/lsehistory/2019/03/06/storming-the-gates-and-closing-the-school/|url-status=live}}</ref>

In the 1970s, four [[Nobel Memorial Prize in Economic Sciences|Nobel Memorial Prizes in Economic Sciences]] were awarded to economists associated with the LSE: [[John Hicks]] (lecturer 1926–36) in 1972, [[Friedrich Hayek]] (lecturer 1931–50) in 1974, [[James Meade]] (lecturer 1947–1957) in 1977 and [[W. Arthur Lewis|Arthur Lewis]] (BSc Econ 1937, and the LSE's first Black academic 1938–44) in 1979.<ref name="LSEHistoryAbout" /><ref>{{cite web|url=https://www.lse.ac.uk/about-lse/lse-people/James-Meade|title=James Meade|publisher=London School of Economics|access-date=10 September 2023|archive-date=21 September 2020|archive-url=https://web.archive.org/web/20200921204608/https://www.lse.ac.uk/about-lse/lse-people/James-Meade|url-status=live}}</ref><ref>{{cite news|url=https://blogs.lse.ac.uk/lsehistory/2015/01/23/arthur-lewis-at-lse-one-of-our-best-teachers/|last=Donnelly|first=Sue|date=23 January 2015|title=Arthur Lewis at LSE – one of our best teachers|newspaper=Lse History |publisher=London School of Economics|access-date=10 September 2023|archive-date=10 June 2023|archive-url=https://web.archive.org/web/20230610171734/https://blogs.lse.ac.uk/lsehistory/2015/01/23/arthur-lewis-at-lse-one-of-our-best-teachers/|url-status=live}}</ref>