History of the London School of Economics
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.
Borough Road
London South Bank University was established on Borough Road as the Borough Polytechnic Institute in 1892, soon after Borough Road College had moved. The associated National School of Bakery was founded two years later in 1894 and is now the oldest bakery school in the world. The Institute expanded and became the Polytechnic of the South Bank (1970), South Bank Polytechnic (1987), attaining university status as South Bank University in 1992, before adopting its current name in 2003. A bust of Joseph Lancaster, given by the Victorian philanthropist John Passmore Edwards, remains at the University.