London School of Economics
The London School of Economics was founded in 1895 by Beatrice and Sidney Webb, initially funded by a bequest of £20,000 from the estate of Henry Hunt Hutchinson. Hutchinson, a lawyer and member of the Fabian Society, left the money in trust, to be put "towards advancing its [The Fabian Society's] objects in any way they [the trustees] deem advisable". The five trustees were Sidney Webb, Edward Pease, Constance Hutchinson, William de Mattos and William Clark.
School of Economic Science
The School of Economic Science (SES), also operating under the names School of Philosophy and the School of Practical Philosophy, is a worldwide organisation based in London. By its own account, the meetings it provides "are not academic courses". Its teachings are principally influenced by Advaita Vedanta, an orthodox philosophical system of Hinduism, as interpreted by SES leader Leon MacLaren (1910-1994), a lawyer. It has a controversial reputation and is seen by some commentators as a cult or new religious movement.