The origin of the London School of Economics and Political Science (LSE) date back even before it first opened in 1895. The actual funding of the school was because of a £26,000 donation from a member of the Fabian Society, Henry Hunt Hutchinson. The Fabian Society focuses on promoting socialist principles, with the creation of LSE the result of the actions of Sidney and Beatrice Webb.
The school became connected to the University of London, with its degrees focused in the areas of economics and social sciences. The debate over which economic theory was more effective led to LSE’s rivalry with Cambridge University, with Frederick Hayek representing LSE and John Maynard Keynes supporting Cambridge. However, the onset of World War II put that rivalry on hold, with LSE taking up residence in some of the structures on the Cambridge campus.
The awarding of degrees each year continued to remain under the jurisdiction of the University of London until 2007, with all of the students that have registered since the early portion of that year now receiving official degrees from LSE.