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.
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.