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Encyclopedia Britannica



MACLEOD, HENRY DUNNING (1821-1902),

This article appears in Volume V17, Page 262 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: LUP-MAL
MACLEOD, HENRY DUNNING (1821-1902), .Scottish economist, was born in Edinburgh, and educated at
Eton
 , Edinburgh University, and Trinity College,
Cambridge
 , where he graduated in 1843. He travelled in Europe, and in 1849 was called to the
English
  bar. He was employed in
Scotland
  on the
work
  of poor-law reform, and devoted himself to the study of economics. In 1856 he published his Theory and Practice of Banking, in 1858 Elements of Political
Economy
 , and in 1859 A Dictionary of Political
Economy
 . In 1873 appeared his Principles of Economist Philosophy, and other books on economics and banking were published later. Between 1868 and 187o he was employed by the government in digesting and codifying the law of bills of exchange.. He died on the 16th of July 1902.
Macleod
 's
principal
  contribution to the study of economics consists in his
work
  on the theory of credit, to which he was the first to give due prominence.
For a judicious discussion of the value of
Macleod
 's writings, see an article on " The Revolt against Orthodox Economics " in the Quarterly
Review
  for October 1901 (No. 388).


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