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Phone: London (44.20) 7830 7000;
New York (1.212) 541 5730.
Website: www.economist.com

Edited in London since 1843, The Economist is a weekly
paper of news, ideas, opinion and analysis. Printed in
six countries and published on the Internet, more than
80% of its circulation is outside the United Kingdom.
Because of its independent and international editorial
perspective, it is read by more of the world's
political and business leaders than any other
magazine. 

The paper remains true to the principles of its
founder, James Wilson, who championed free trade,
internationalism and minimum interference by
government. In his prospectus for The Economist,
Wilson wrote: "we seriously believe that free trade,
free intercourse, will do more than any other visible
agent to extend civilisation and morality throughout
the world." Wilson's outlook was moral but not
moralistic. He believed "that reason is given to us to
sit in judgement over the dictates of our feelings."
In particular, reason convinced him that Adam Smith
was right: through its invisible hand, the market
benefited profit-seeking individuals (of whom he was
one) and society alike. He was himself a manufacturer
and wanted especially to influence "men of business".
Accordingly, he insisted that all the arguments and
propositions put forward in his paper should be
subjected to the test of facts. That was why it was
called The Economist. 

It was Walter Bagehot, the paper's third editor
(1861-77) and probably its greatest intellect, who
broadened the range of the paper into politics. It now
covers science, technology and the arts as well as
current affairs, business, finance and economics.
Whatever their subject, The Economist's articles have
a distinctive tone: independent, plain-speaking,
concise and with a reverence for facts. 

Editorial independence is at the heart of The
Economist. The constitution of the company does not
permit any organisation or individual to gain a
majority share-holding. The editor is appointed by
trustees who are independent of commercial, political
and proprietorial influences. The principle of
anonymity is also central to the paper's philosophy.
The Economist has no bylines, because it believes that
what is written is more important than who writes it. 

�
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