CHAPTER 12

Understand Your Sphere of Action

LEARNING FROM

James Wilson

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The Economist was first published in September 1843, “to take part ina severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress.’”1 The newspaper was founded by James Wilson (1805–1860), a hat maker from Hawick in Scotland, who held an unswerving belief in global free trade with the least possible government intervention. The protectionist Corn Laws, which imposed special taxes and constraints on imports were the decisive factor in the establishment of The Economist, because bread prices skyrocketed, causing the ...

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