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126-632: Under the East India Company , the accounts of the 3 Presidencies of Bengal , Madras and Bombay were prepared separately. In 1857, a combined department called the General Department of Account was constituted, and an Accountant General was appointed to head it. The Indian Audit and Accounts Service traces its history to 1860, when these posts were amalgamated by the British Colonial Government to create

252-618: A bar, events space, gymnasium, rooftop terrace, learning café, dance studio, and media centre. Designed by architectural practice O'Donnell and Tuomey, the building achieved a BREEAM 'Outstanding' rating for environmental sustainability, won multiple awards including the RIBA National Award and London Building of the Year Award, and was shortlisted for the Stirling Prize . The Centre Building, situated opposite

378-585: A higher proportion of casual academic work for the 2021/2022 year (66%) although in contrast to LSE, the proportion remained constant rather than rising. As a result, the student-to-permanent staff ratio at LSE has worsened and had, as of July 2023, the worst student-to-permanent staff ratio among comparable universities in the UK, according to HESA data. According to research conducted by the LSE UCU Branch into staff well-being, 82% of fixed term academic staff at

504-514: A licence from the company were liable to forfeiture of their ships and cargo (half of which would go to the Crown and half to the company), as well as imprisonment at the "royal pleasure." The charter named Thomas Smythe as the first governor of the company, and 24 directors (including James Lancaster) or "committees", who made up a Court of Directors. They, in turn, reported to a Court of Proprietors, who appointed them. Ten committees reported to

630-524: A major fund-raising "Campaign for LSE" raised over £100 million in what was one of the largest university fund-raising exercises outside North America. This process began with the £35 million renovation of the British Library of Political and Economic Science by Foster and Partners . In 2003, LSE purchased the former Public Trustee building at 24 Kingsway and engaged Sir Nicholas Grimshaw to redesign it into an ultra-modern educational facility at

756-568: A private fleet of 200 ships. It specialised in the spice trade and gave its shareholders 40% annual dividend. The British East India Company was fiercely competitive with the Dutch and French throughout the 17th and 18th centuries over spices from the Spice Islands . Some spices, at the time, could only be found on these islands, such as nutmeg and cloves; and they could bring profits as high as 400 per cent from one voyage. The tension

882-719: A relative of the Grand Mughal , though there is no evidence to suggest that it was his daughter and her retinue. The loot from the Ganj-i-Sawai had a total value between £325,000 and £600,000, including 500,000 gold and silver pieces, and has become known as the richest ship ever taken by pirates. When the news arrived in England it caused an outcry. To appease Aurangzeb, the East India Company promised to pay all financial reparations, while Parliament declared

1008-454: A sovereign state rather than as part of China , Lhasa being denoted as a full capital and depicting boundaries between India and China as recognised internationally. The sculpture also did not depict the State of Palestine as a separate country from Israel. After protests and reactions from both Chinese and Taiwanese students, The university decided later that year that it would retain

1134-594: A total cost of over £45 million – increasing the size of the campus by 120,000 square feet (11,000 m ). The New Academic Building opened for teaching in October 2008, with an official opening by Her Majesty the Queen and the Duke of Edinburgh on 5 November 2008. In November 2009 the school purchased the adjacent Sardinia House to house three academic departments and the nearby Old White Horse public house, before acquiring

1260-637: A young Mughal Prince as Emperor with the Company as the de jure protectors of the Empire from their position of direct control in Bengal. This relationship was repeatedly strained as the Company continued its expansion and exploitation, however it lasted in some form until 1858 when the last Mughal Emperor was exiled as the Company was disbanded and its assets were taken over by the British Crown. In 1634,

1386-528: Is a constituent college of the federal University of London, it is in many ways comparable with free-standing, self-governing, and independently funded universities, and it awards its own degrees. LSE is incorporated under the Companies Act as a company limited by guarantee and is an exempt charity within the meaning of Schedule Two of the Charities Act 1993 . The principal governance bodies of

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1512-525: Is a senior time scale. Subsequent to their promotion, they become Senior Deputy Accountants General (Sr.DAsG) or Directors. All officers below the rank of AG/PD are also called Group Officers as they are generally in charge of a group in the office. The positions and designations held by an IAAS officer in their career are as follows: There are two modes for recruitment into the Indian Audit and Accounts Service. 50% of IA&AS officers are recruited by

1638-566: Is accountable to the council. The vice-chancellor is also the accountable officer for the purposes of the Office for Students financial memorandum. The LSE's current interim vice-chancellor is Eric Neumayer , who replaced Minouche Shafik on 23 June 2023. In July 2023, the LSE announced that Hewlett Foundation head Larry Kramer would become president and vice-chancellor in April 2024. The president

1764-413: Is at least as well-known abroad as Oxbridge". According to the magazine, the school "owes its success to the single-minded, American-style exploitation of its brand name and political connections by the recent directors, particularly Mr Giddens and his predecessor, John Ashworth " and raises money from foreign students' high fees, which are attracted by academic stars such as Richard Sennett . In 2006,

1890-423: Is supported by four pro-vice chancellors with designated portfolios (education; research; planning and resources; faculty development), the school secretary, the chief operating officer, the chief finance officer, and the chief philanthropy and global engagement officer. Titled as director and president LSE's research and teaching are organised into a network of independent academic departments established by

2016-681: Is supported by its own structure of committees. The vice chair of the academic board serves as a non-director member of the council and makes a termly report to the council. Since the COVID-19 Pandemic , the Academic Board has moved online and has not yet returned to in-person meetings, changing the dynamic of engagement. The president and vice-chancellor (titled director until 2022) is the head of LSE and its chief executive officer, responsible for executive management and leadership on academic issues. The vice-chancellor reports to and

2142-417: Is supported in carrying out its role by a number of committees that report directly to it. The Court of Governors deals with certain constitutional matters and has pre-decision discussions on key policy issues and the involvement of individual governors in the school's activities. The court has the following formal powers: the appointment of members of the court, its subcommittees, and the council; election of

2268-632: Is surrounded by a number of important institutions including the Royal Courts of Justice , all four Inns of Courts , Royal College of Surgeons , Sir John Soane's Museum , and the West End is immediately across Kingsway from campus, which also borders the City of London and is within walking distance to Trafalgar Square and the Houses of Parliament . In 1920, King George V laid the foundation of

2394-709: The Bonaventure with two other ships, financed by the Levant Company , sailed from England around the Cape of Good Hope to the Arabian Sea , becoming the first English expedition to reach India that way. Having sailed around Cape Comorin to the Malay Peninsula , they preyed on Spanish and Portuguese ships there before returning to England in 1594. The biggest prize that galvanised English trade

2520-758: The Fancy , reached the Straits of Bab-el-Mandeb , where he teamed up with five other pirate captains to make an attack on the Indian fleet returning from the annual pilgrimage to Mecca . The Mughal convoy included the treasure-laden Ganj-i-Sawai , reported to be the greatest in the Mughal fleet and the largest ship operational in the Indian Ocean, and its escort, the Fateh Muhammed . They were spotted passing

2646-730: The British Crown assuming direct control of present-day Bangladesh, Pakistan and India in the form of the new British Indian Empire . The company subsequently experienced recurring problems with its finances, despite frequent government intervention. The company was dissolved in 1874 under the terms of the East India Stock Dividend Redemption Act enacted one year earlier, as the Government of India Act had by then rendered it vestigial, powerless, and obsolete. The official government machinery of

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2772-894: The Civil Services Examination conducted by UPSC . Officers recruited this way are called direct recruits. The remaining 50% are recruited by promotion from subordinate cadres. After the selection process, IA&AS officers are trained at the National Academy of Audit and Accounts in Shimla , Himachal Pradesh , where they are referred to as Officer Trainees. The training spans 89 weeks, with 3 distinct phases of 51, 32, and 6 weeks. The first phase focuses on professional training, in which OTs are imparted theoretical knowledge on accounting, auditing and personnel administration. It also involves modules where they are attached to government bodies and academic institutes such as

2898-572: The East Indies (South Asia and Southeast Asia), and later with East Asia. The company gained control of large parts of the Indian subcontinent and Hong Kong . At its peak, the company was the largest corporation in the world by various measures and had its own armed forces in the form of the company's three presidency armies , totalling about 260,000 soldiers, twice the size of the British Army at certain times. Originally chartered as

3024-629: The East Indies and came across the Moluccas , also known as the Spice Islands, and met Sultan Babullah . In exchange for linen, gold, and silver, the English obtained a large haul of exotic spices, including cloves and nutmeg. Drake returned to England in 1580 and became a hero; his circumnavigation raised an enormous amount of money for England's coffers, and investors received a return of some 5,000 per cent. Thus started an important element in

3150-601: The English Company Trading to the East Indies ) was floated under a state-backed indemnity of £2 million. The powerful stockholders of the old company quickly subscribed a sum of £315,000 in the new concern, and dominated the new body. The two companies wrestled with each other for some time, both in England and in India, for a dominant share of the trade. It quickly became evident that, in practice,

3276-567: The European University Association , and is typically considered part of the " golden triangle " of research universities in the south east of England. The LSE also forms part of CIVICA – The European University of Social Sciences , a network of eight European universities focused on research in the social sciences. The 2025 Times and Sunday Times Good University Guide ranked the London School of Economics as

3402-682: The First Opium War in 1839, which involved a succession of British naval attacks along the Chinese coast over the course of several months. As part of the Treaty of Nanjing in 1842, the Qing were forced to give British merchants special treatment and the right to sell opium. The Chinese also ceded territory to the British, including the island of Hong Kong . The prosperity that the officers of

3528-527: The Reserve Bank of India , TISS, Mumbai , SEBI , National Institute of Public Finance and Policy, New Delhi , Bureau of Parliamentary Studies, Indian Parliament , and IIM, Ahmedabad . The second phase consists of on-the-job training, where OTs are attached to offices of Accountant Generals and Accounts & Entitlement. Finally, in the third phase, the OTs consolidate and reinforce the knowledge gained over

3654-712: The Straits of Malacca by ousting the Portuguese in 1640–1641. With reduced Portuguese and Spanish influence in the region, the EIC and VOC entered a period of intense competition, resulting in the Anglo-Dutch wars of the 17th and 18th centuries. The British were also interested in trans-Himalayan trade routes, as they would create access to untapped markets for British manufactured goods in Tibet and China. This economic interest

3780-571: The UVW union was originally over unfair dismissals of cleaners, but had escalated into a broad demand for decent employment rights matching those of LSE's in-house employees. Owen Jones did not cross the picket line after arriving for a debate on grammar schools with Peter Hitchens . It was announced in June 2018 that some 200 outsourced workers at the LSE would be offered in-house contracts. Since 2014/15, levels of academic casualisation have increased at

3906-523: The University College of Rhodesia and Nyasaland , and the students objected to his failure to oppose Rhodesia's Unilateral Declaration of Independence and cooperation with the white minority government. This broadened into wider concerns about links between the LSE and its governors and investments in Rhodesia and South Africa and concerns over LSE's response to student protests. These led to

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4032-536: The University of London . The school specialises in the social sciences. Founded in 1895 by Fabian Society members Sidney Webb , Beatrice Webb , Graham Wallas and George Bernard Shaw , LSE joined the University of London in 1900 and established its first degree courses under the auspices of the university in 1901. LSE began awarding its degrees in its own name in 2008, prior to which it awarded degrees of

4158-494: The sixth-largest endowment of any university in the UK and in 2022/23, it had an income of £466.1 million of which £39.6 million was from research grants. Despite its name, the school is organised into 25 academic departments and institutes which conduct teaching and research across a range of pure and applied social sciences. LSE is a member of the Russell Group , Association of Commonwealth Universities and

4284-640: The "Governor and Company of Merchants of London Trading into the East-Indies," the company rose to account for half of the world's trade during the mid-1700s and early 1800s, particularly in basic commodities including cotton , silk , indigo dye , sugar , salt , spices , saltpetre , tea , and later, opium . The company also initiated the beginnings of the British Raj in the Indian subcontinent . The company eventually came to rule large areas of

4410-441: The 1770s in exchange for goods like porcelain and tea , causing a series of opioid addiction outbreaks across China in 1820. The ruling Qing dynasty outlawed the opium trade in 1796 and 1800, but British merchants continued illegally nonetheless. The Qing took measures to prevent the East India Company from selling opium, and destroyed tens of thousands of chests of opium already in the country. This series of events led to

4536-511: The Americas ; and several other sea-farers who had served with Drake and Raleigh. On 22 September, the group stated their intention "to venture in the pretended voyage to the East Indies (the which it may please the Lord to prosper)" and to themselves invest £30,133 (over £4,000,000 in today's money). Two days later, the "Adventurers" reconvened and resolved to apply to the Queen for support of

4662-705: The British Empire had assumed its governmental functions and absorbed its armies. In 1577, Francis Drake set out on an expedition from England to plunder Spanish settlements in South America in search of gold and silver. Sailing in the Golden Hind he achieved this, and then sailed across the Pacific Ocean in 1579, known then only to the Spanish and Portuguese. Drake eventually sailed into

4788-593: The British Library of Political and Economic Science, opened in June 2019. Designed by Rogers Stirk Harbour and Partners following a RIBA competition, the 13-storey building includes 14 seminar rooms seating between 20 and 60, 234 study spaces, a 200-seater auditorium, as well as three lecture theatres. The building hosts the School of Public Policy, the Departments of Government and International Relations,

4914-717: The British state and the Royal Navy in the form of the West Africa Squadron , which discovered various ships had contained evidence of the illegal trade. In 1613, during the rule of Tokugawa Hidetada of the Tokugawa shogunate , the British ship Clove , under the command of Captain John Saris , was the first English ship to call on Japan. Saris was the chief factor of the EIC's trading post in Java, and with

5040-530: The Causes of Things" and it was suggested by Professor Edwin Cannan . The beaver mascot was selected for its associations with "foresight, constructiveness, and industrious behaviour". The 1930s economic debate between LSE and the University of Cambridge is well known in academic circles. The rivalry between academic opinion at LSE and Cambridge goes back to the school's roots when LSE's Edwin Cannan (1861–1935), Professor of Economics, and Cambridge's Professor of Political Economy, Alfred Marshall (1842–1924),

5166-429: The Central level are Principal Directors (PDs) or Directors General (DsG). The PDs, DsG, AsG and PAsG report to Additional Deputy CAG or Deputy CAG. Deputy CAGs are the highest-ranked officers in the service. After training, the Officer Trainees are posted as Assistant Accountant Generals and Assistant Directors at Junior Grade Group A and later promoted to Deputy Accountants General (DAsG) or Deputy Directors (DDs), which

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5292-475: The Court of Directors. By tradition, business was initially transacted at the Nags Head Inn, opposite St Botolph's church in Bishopsgate , before moving to East India House in Leadenhall Street . Sir James Lancaster commanded the first East India Company voyage in 1601 aboard Red Dragon . The following year, whilst sailing in the Malacca Straits , Lancaster took the rich 1,200 ton Portuguese carrack Sao Thome carrying pepper and spices. The booty enabled

5418-415: The Dutch. This compelled the company to formally abandon their efforts in the Spice Islands, and turn their attention to Bengal where, by this time, they were making steady, if less exciting, profits. After gaining the indifferent patronage of the Mughal Empire , whose cities were 'the megacities of their time' and whose wealth was unrivaled outside of Asia in the 17th Century, the Company's first century in

5544-430: The EIC surrendered in 1690, and the company sent envoys to Aurangzeb 's camp to plead for a pardon. The company's envoys had to prostrate themselves before the emperor, pay a large indemnity, and promise better behaviour in the future. The emperor withdrew his troops, and the company subsequently re-established itself in Bombay and set up a new base in Calcutta. The East India Company's archives suggest its involvement in

5670-429: The English. In March 1604, Sir Henry Middleton commanded the company's second voyage . General William Keeling , a captain during the second voyage, led the third voyage aboard Red Dragon from 1607 to 1610 along with Hector under Captain William Hawkins and Consent under Captain David Middleton . Early in 1608, Alexander Sharpeigh was made captain of the company's Ascension , and general or commander of

5796-425: The European Institute, and the International Inequalities Institute. It includes publicly accessible roof terraces and a renovated square at the centre of campus. The building design was recognised with RIBA's London Award and National Award in 2021. The Marshall Building, located at 44 Lincoln's Inn Fields, opened in January 2022. Designed by Grafton Architects and named after British investor Paul Marshall ,

5922-438: The Finnish organisation ( Oy ) Compensate. However, LSE omitted some of its emissions in its calculation and thus did not offset all of them. While it measured and offset emissions from heating, electricity, and faculty air travel, the school left out other travel-related emissions, as well as emissions from construction and on-campus food. LSE plans to offset the remaining emissions ( scope 1 through 3 ) by 2050. Although LSE

6048-430: The Indian Ocean. The company achieved a major victory over the Portuguese in the Battle of Swally in 1612, at Suvali in Surat . The company decided to explore the feasibility of a foothold in mainland India, with official sanction from both Britain and the Mughal Empire , and requested that the Crown launch a diplomatic mission. Company ships docked at Surat in Gujarat in 1608. The company's first Indian factory

6174-405: The Indian subcontinent, exercising military power and assuming administrative functions. Company-ruled areas in the region gradually expanded after the Battle of Plassey in 1757 and by 1858 most of modern India, Pakistan and Bangladesh was either ruled by the company or princely states closely tied to it by treaty. Following the Sepoy Rebellion of 1857 , the Government of India Act 1858 led to

6300-403: The LSE and Cambridge were fierce rivals through the 1920s and 30s, they worked together in the 1920s on the London and Cambridge Economic Service. However, the 1930s brought a return to disputes as economists at the two universities argued over how best to address the economic problems caused by the Great Depression . The main figures in this debate were John Maynard Keynes from Cambridge and

6426-536: The LSE are: the LSE Council; the Court of Governors; the academic board; and the director and director's management team. The LSE Council is responsible for strategy and its members are company directors of the school. It has specific responsibilities in relation to areas including the monitoring of institutional performance; finance and financial sustainability; audit arrangements; estate strategy; human resource and employment policy; health and safety; "educational character and mission", and student experience. The council

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6552-420: The LSE experienced regular or constant anxiety about their professional futures. In the same survey, overwork and mental health issues were reported as endemic among respondents, with 40% of fellows reporting that their teaching hours exceeded LSE's universal teaching limit of 100 hours per academic year for LSE Fellows. In response to industrial action, which included not marking student work, taken by UCU in

6678-409: The LSE's Friedrich Hayek . The LSE economist Lionel Robbins was also heavily involved. Starting off as a disagreement over whether demand management or deflation was the better solution to the economic problems of the time, it eventually embraced much wider concepts of economics and macroeconomics. Keynes put forward the theories now known as Keynesian economics , involving the active participation of

6804-456: The LSE, with the number of academics on fixed-term contracts increasing from 47% in 2016/2017 to 59% in 2021/2022, according to Higher Education Statistical Agency data (internal LSE data puts the latest figure at 58.5%). During this same period, comparable universities such as University of Edinburgh , University College London and Imperial all increased their rates of permanent staff relative to those on fixed term contracts. Only Oxford had

6930-407: The LSE: John Hicks (lecturer 1926–36) in 1972, Friedrich Hayek (lecturer 1931–50) in 1974, James Meade (lecturer 1947–1957) in 1977 and Arthur Lewis (BSc Econ 1937, and the LSE's first Black academic 1938–44) in 1979. In the early 21st century, the LSE had a wide impact on British politics. The Guardian described such influence in 2005 when it stated: Once again the political clout of

7056-416: The Mughal emperor Shah Jahan extended his hospitality to the English traders to the richest region of the Mutual Empire Bengal , and in 1717 customs duties were completely waived for the English in Bengal. The company's mainstay businesses were by then cotton, silk, opium, indigo dye , saltpetre , and tea. The Dutch were aggressive competitors and had meanwhile expanded their monopoly of the spice trade in

7182-738: The Mughal-ruled areas was spent cultivating their relationship with the Mughal Dynasty, and conducting peaceful trade at great profit. At first it should be said the EIC was drawn into the Mughal system, acting as a kind of vassal to Mughal authority in present-day Bangladesh: from this position that the EIC would ultimately outplay and outmaneuver everyone else in the region, to eventually use that same system to hold power. What started as trading posts on undesirable land were developed into sprawling factory complexes with hundreds of workers sending exotic goods to England and managing protected points to export English finished goods to local merchants. The Company's initial rise in Bengal and successes generally came at

7308-409: The Old Building. The campus now occupies an almost continuous group of around 30 buildings between Kingsway and Aldwych . Alongside teaching and academic space, the institution owns 11 student halls of residence across London, a West End theatre (the Peacock ), early years centre, NHS medical centre and extensive sports ground in Berrylands, south London. LSE operates the George IV public house and

7434-420: The Treasury, in return for exclusive privileges for the next three years, after which the situation was to be reviewed. The amalgamated company became the United Company of Merchants of England Trading to the East Indies . London School of Economics The London School of Economics and Political Science ( LSE ) is a public research university in London , England, and a member institution of

7560-516: The UK government's Infrastructure Commission and advising on architecture and urbanism for the London 2012 Olympics The LSE gained its own degree-awarding powers in 2006 and the first LSE degrees (rather than degrees of the University of London) were awarded in 2008. Following the passage of the University of London Act 2018, the LSE (along with other member institutions of the University of London) announced in early 2019 that they would seek university status in their own right while remaining part of

7686-436: The University of London. It became a university in its own right within the University of London in 2022. LSE is located in the London Borough of Camden and Westminster , Central London , near the boundary between Covent Garden and Holborn . The area is historically known as Clare Market . LSE has more than 11,000 students, just under seventy per cent of whom come from outside the UK, and 3,300 staff. The university has

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7812-440: The adventurer Edward Michelborne , the nobleman William Cavendish and other aldermen and citizens. She granted her charter to their corporation named Governor and Company of Merchants of London trading into the East Indies . For a period of fifteen years, the charter awarded the company a monopoly on English trade with all countries east of the Cape of Good Hope and west of the Straits of Magellan . Any traders there without

7938-812: The assistance of William Adams , an English sailor who had arrived in Japan in 1600, he was able to gain permission from the ruler to establish a commercial house in Hirado on the Japanese island of Kyushu : We give free license to the subjects of the King of Great Britaine, Sir Thomas Smythe, Governor and Company of the East Indian Merchants and Adventurers forever safely come into any of our ports of our Empire of Japan with their shippes and merchandise, without any hindrance to them or their goods, and to abide, buy, sell and barter according to their own manner with all nations, to tarry here as long as they think good, and to depart at their pleasure. Unable to obtain Japanese raw silk for export to China, and with their trading area reduced to Hirado and Nagasaki from 1616 onwards,

8064-424: The board are Tory MPs Virginia Bottomley and Richard Shepherd , as well as Lord Saatchi and Lady Howe . Commenting in 2001 on the rising status of the LSE, the British magazine The Economist stated that "two decades ago the LSE was still the poor relation of the University of London's other colleges. Now... it regularly follows Oxford and Cambridge in league tables of research output and teaching quality and

8190-442: The building houses the Departments of Management, Accounting, and Finance, sports facilities, and the Marshall Institute for Philanthropy and Social Entrepreneurship. The site was previously home to the Francis Crick Institute 's laboratories, which LSE purchased in 2013. On 15 November 2017, LSE announced that it acquired the Nuffield Building at 35 Lincoln's Inn Fields from the Royal College of Surgeons and plans to redevelop

8316-426: The chair and vice chairs of the court and council and honorary fellows of the school; the amendment of the memorandum and articles of association; and the appointment of external auditors. The academic board is LSE's principal academic body and considers all major issues of general policy affecting the academic life of the school and its development. It is chaired by the director, with staff and student membership, and

8442-409: The chaos widened and the stakes were raised. Ultimately, the company won out, generally through as much diplomacy and state-craft(fraud and deception). The gradual rise of the EIC within the Mughal network culminated in the Second Anglo-Maratha War , in which the Company successfully ousted the Empire's official protectors in the Maratha, the Maratha high water point in their rise to power, and installed

8568-606: The charity provided good value for money and was well managed. The university did not disclose that the study was funded by the charity. In 2023, the LSE formally cut ties with the LGBT charity Stonewall , a decision which was sharply criticized as transphobic by the LSE Student Union but praised by gender-critical activists as being conducive to freedom of speech. In the summer of 2017, dozens of campus cleaners contracted via Noonan Services went on weekly strikes, protesting outside key buildings and causing significant disruption during end-of-year examinations. The dispute organised by

8694-471: The closure of the school for 25 days in 1969 after a student attempt to dismantle the school gates resulted in the arrest of over 30 students. Injunctions were taken out against 13 students (nine from LSE), with three students ultimately being suspended, two foreign students being deported, and two staff members seen as supporting the protests being fired. In the 1970s, four Nobel Memorial Prizes in Economic Sciences were awarded to economists associated with

8820-452: The coast of China that helped secure EIC ports in China, independently attacking the Portuguese in the Persian Gulf Residencies primarily for political reasons. The company established trading posts in Surat (1619) and Madras (1639). By 1647, the company had 23 factories and settlements in India, and 90 employees. Many of the major factories became some of the most populated and commercially influential cities in Bengal, including

8946-428: The company closed its factory in 1623. The first of the Anglo-Indian wars occurred in 1686 when the company conducted naval operations against Shaista Khan , the governor of Mughal Bengal . This led to the siege of Bombay and the subsequent intervention of the Mughal Emperor, Aurangzeb . Subsequently, the English company was defeated and fined. In September 1695, Captain Henry Every , an English pirate on board

9072-574: The company enjoyed allowed them to return to Britain and establish sprawling estates and businesses, and to obtain political power, such as seats in the House of Commons. Ship captains sold their appointments to successors for up to £500. As recruits aimed to return to Britain wealthy by securing Indian money, their loyalties to their homeland increased. The company developed a lobby in the English parliament. Pressure from ambitious tradesmen and former company associates (pejoratively termed Interlopers by

9198-555: The company's factories in India and imprison their officers, who were almost lynched by a mob of angry Mughals , blaming them for their countryman's depredations, and threatened to put an end to all English trading in India. To appease Emperor Aurangzeb and particularly his Grand Vizier Asad Khan , Parliament exempted Every from all of the Acts of Grace (pardons) and amnesties it would subsequently issue to other pirates. The East India Company started selling opium to Chinese merchants in

9324-518: The company), who wanted to establish private trading firms in India, led to the passing of the deregulating act in 1694. This act allowed any English firm to trade with India, unless specifically prohibited by act of parliament, thereby annulling the charter that had been in force for almost 100 years. When the East India Company Act 1697 ( 9 Will. 3 . c. 44) was passed in 1697, a new "parallel" East India Company (officially titled

9450-400: The continent as they individually contended with others, steadily amassing more land and power in India to themselves. In the 18th Century, the primary source of the Company's profits in Bengal became taxation in conquered and controlled provinces, as the factories became fortresses and administrative hubs for networks of tax collectors that expanded into enormous cities. The Mughal Empire was

9576-581: The designations vary. Major states have three Principal Accountants General (PAsG) or Accountants General (AsG), each heading Accounts and Entitlement (i.e., compiling state accounts, maintaining pension accounts, loan accounts, etc.), Cluster 1 (General Administration, Finance, Health & Family Welfare, Water Resource, Rural Development, PRIs, Agriculture & Food) or Cluster 2 (Energy, Power, Industry & Commerce, Transport, Urban Development, Environment, S&T, Information Technology Public Works, Law & Order, Art & Culture). The equivalent officers at

9702-558: The eastern design during the late sixteenth century. Soon after the Spanish Armada 's defeat in 1588, the captured Spanish and Portuguese ships and cargoes enabled English voyagers to travel the globe in search of riches. London merchants presented a petition to Elizabeth I for permission to sail to the Indian Ocean. The aim was to deliver a decisive blow to the Spanish and Portuguese monopoly of far-eastern trade. Elizabeth granted her permission and in 1591, James Lancaster in

9828-510: The event that the final classification (once all marks are available) is lower than the provisional classification, the higher provisional classification will stand as the degree classification. A sculpture by Mark Wallinger , The World Turned Upside Down , which features a globe resting on its north pole, was installed in Sheffield Street on the LSE campus on 26 March 2019. The artwork attracted controversy for showing Taiwan as

9954-480: The expense of competing European powers through the art of currying favors and well-placed bribes, as the company was matched at every step with French expansion in the region (whose equivalent company carried substantial royal support). See French East India Company . Throughout the entire century the company only resorted to force against the Mughals once, with terrible consequences. The Anglo-Mughal war (1686–1690)

10080-572: The federal university. Approval of university title was received from the Office for Students in May 2022 and updated Articles of Association formally constituting the school as a university were approved by LSE council 5 July 2022. In February 2011, LSE had to face the consequences of matriculating one of Muammar Gaddafi 's sons while accepting a £1.5m donation to the university from his family. LSE director Howard Davies resigned over allegations about

10206-502: The fourth voyage. Thereafter two ships, Ascension and Union (captained by Richard Rowles), sailed from Woolwich on 14 March 1608. This expedition was lost. Initially, the company struggled in the spice trade because of competition from the well-established Dutch East India Company . This rivalry led to military skirmishes, with each company establishing fortified trading posts, fleets, and alliances with local rulers. The Dutch, better financed and supported by their government, gained

10332-528: The freehold of the grade-II listed Land Registry Building at 32 Lincoln's Inn Fields in October 2010, which was reopened in March 2013 by The Princess Royal as the new home for the Department of Economics, International Growth Centre and its associated economic research centres. In 2015, LSE brought its ownership of buildings on Lincoln's Inn Fields to six, with the purchase of 5 Lincoln's Inn Fields on

10458-651: The imperial patronage, soon expanded its commercial trading operations. It eclipsed the Portuguese Estado da Índia , which had established bases in Goa , Chittagong , and Bombay ; Portugal later ceded Bombay to England as part of the dowry of Catherine of Braganza on her marriage to King Charles II . The East India Company also launched a joint attack with the Dutch United East India Company (VOC) on Portuguese and Spanish ships off

10584-476: The institution's links to the Libyan regime. The LSE announced in a statement that it had accepted his resignation with "great regret" and that it had set up an external inquiry into the school's relationship with the Libyan regime and Saif al-Islam Gaddafi, to be conducted by the former lord chief justice Harry Woolf . In 2013, the LSE was featured in a BBC Panorama documentary on North Korea, filmed inside

10710-423: The leading economist of the day, argued about the bedrock matter of economics and whether the subject should be considered as an organic whole. (Marshall disapproved of LSE's separate listing of pure theory and its insistence on economic history.) The dispute also concerned the question of the economist's role, and whether this should be as a detached expert or a practical adviser. Despite the traditional view that

10836-710: The most billionaires (11) of any European university according to a 2014 global census of US dollar billionaires . The London School of Economics and Political Science was founded in 1895 by Beatrice and Sidney Webb , initially funded by a bequest of £20,000 from the estate of Henry Hunt Hutchinson. Hutchinson, a lawyer and member of the Fabian Society , left the money in trust, to be put "towards advancing its [The Fabian Society's] objects in any way they [the trustees ] deem advisable". The five trustees were Sidney Webb, Edward Pease , Constance Hutchinson, W. S. de Mattos and William Clark. LSE records that

10962-731: The north side of the square, which has since been converted into faculty accommodation. The first new campus building for more than 40 years, the Saw Swee Hock Student Centre, named after the Singaporean statistician and philanthropist, opened in January 2014 following an architectural design competition managed by RIBA Competitions . The building provides accommodation for the LSE Students' Union , LSE accommodation office and LSE careers service as well as

11088-879: The number one university in the United Kingdom and named it their University of the Year . In the 2021 Research Excellence Framework , the school had the third highest grade point average in the United Kingdom (joint with the University of Cambridge). LSE alumni and faculty include 55 past or present heads of state or government and 20 Nobel laureates . As of 2024, 25 per cent of all 56 Nobel Memorial Prizes in Economics had been awarded, at least in part, to LSE alumni, current staff, or former staff. LSE alumni and faculty have also won 3 Nobel Peace Prizes and 2 Nobel Prizes in Literature . The university has educated

11214-402: The original company faced scarcely any measurable competition. The companies merged in 1708, by a tripartite indenture involving both companies and the state, with the charter and agreement for the new United Company of Merchants of England Trading to the East Indies being awarded by Sidney Godolphin, 1st Earl of Godolphin . Under this arrangement, the merged company lent a sum of £3,200,000 to

11340-519: The original design which chromatically displayed the PRC and Taiwan as different entities consistent with the status quo, but with the addition of an asterisk beside the name of Taiwan and a corresponding placard that clarified the institution's position regarding the controversy. Since 1902, LSE has been based at Clare Market and Houghton Street (first syllable pronounced "How") in Westminster . It

11466-556: The pirates hostis humani generis ("the enemy of humanity"). In mid-1696 the government issued a £500 bounty on Every's head and offered a free pardon to any informer who disclosed his whereabouts. The first worldwide manhunt in recorded history was underway. The plunder of Aurangzeb's treasure ship had serious consequences for the English East India Company. The furious Mughal Emperor Aurangzeb ordered Sidi Yaqub and Nawab Daud Khan to attack and close four of

11592-743: The post of first Auditor General who had both accounting and auditing functions. It was given statutory recognition by the Government of India Act, 1919 , and further strengthened by the Government of India Act, 1935 . After India gained independence and the Constitution came into force, the Auditor General was re-designated as the Comptroller & Auditor General of India . In 1971, the CAG's (Duties, Powers and Conditions of Service) Act

11718-409: The power of the EIC, King Charles II granted the EIC (in a series of five acts around 1670) the rights to autonomous territorial acquisitions, to mint money, to command fortresses and troops and form alliances, to make war and peace, and to exercise both civil and criminal jurisdiction over the acquired areas. In 1689, a Mughal fleet commanded by Sidi Yaqub attacked Bombay. After a year of resistance

11844-498: The pre-1707 Mughal fiefs and holdings, with their capital Delhi routinely under the control of Maratha, Afghan, or usurper generals' armies. The EIC was able to take advantage of this chaos, slowly assuming direct control of the province of Bengal , and fighting numerous wars against the French for control of the east coast. The Company's position in the Mughal court as it fell apart made it possible to sponsor various powerful people on

11970-480: The previous 2 phases. They are also given international exposure by attachment with the London School of Economics and Political Science and UK's National Audit Office . East India Company The East India Company ( EIC ) (1600–1874) was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region , initially with

12096-506: The project. Although their first attempt had not been completely successful, they sought the Queen's unofficial approval to continue. They bought ships for the venture and increased their investment to £68,373. They convened again a year later, on 31 December 1600, and this time they succeeded; the Queen responded favourably to a petition by George, Earl of Cumberland and 218 others, including James Lancaster, Sir John Harte , Sir John Spencer (both of whom had been Lord Mayor of London ),

12222-515: The proposal to establish the school was conceived during a breakfast meeting on 4 August 1894, between the Webbs, Louis Flood, and George Bernard Shaw . The proposal was accepted by the trustees in February 1895 and LSE held its first classes in October of that year, in rooms at 9 John Street, Adelphi , in the City of Westminster . The school joined the federal University of London in 1900 and

12348-456: The region's battlefields for a thousand years, with cannon so well integrated that the Mughals fought with cannon mounted on elephants; all were no match to line infantry with decent discipline supported with field cannon. Repeatedly, a few thousand company sepoys fought vastly larger Mughal forces numerically and came out victorious. Afghan, Mughal, and Maratha factions started creating their own European-style forces, often with French equipment, as

12474-447: The repressive regime by undercover journalists attached to a trip by the LSE's Grimshaw Club , a student society of the international relations department. The trip had been sanctioned by high-level North Korean officials. The trip caused international media attention as a BBC journalist was posing as a part of LSE. There was debate as to whether this put the students' lives in jeopardy in

12600-456: The repressive regime if a reporter had been exposed. The North Korean government made hostile threats towards the students and LSE after the publicity, which forced an apology from the BBC. In August 2015, it was revealed that the university was paid approximately £40,000 for a "glowing report" for Camila Batmanghelidjh 's charity, Kids Company . The study was used by Batmanghelidjh to prove that

12726-459: The richest in the world in 1700, and the East India Company tried to strip it bare for a century thereafter. Dalrymple calls it "the single largest transfer of wealth until the Nazis." What was in the 17th century the production capital of the world for textiles was forced to become a market for British-made textiles. Statues, jewels, and various other valuables were moved from the palaces of Bengal to

12852-493: The school published a report disputing the costs of British government proposals to introduce compulsory ID cards . LSE academics were also represented on numerous national and international bodies in the early 21st century, including the UK Airports Commission, Independent Police Commission, Migration Advisory Committee, UN Advisory Board on Water and Sanitation, London Finance Commission, HS2 Limited ,

12978-455: The school, which seems to be closely wired into parliament, Whitehall, and the Bank of England, is being felt by ministers. ... The strength of LSE is that it is close to the political process: Mervyn King , was a former LSE professor. The former chairman of the House of Commons education committee, Barry Sheerman , sits on its board of governors, along with Labour peer Lord (Frank) Judd . Also on

13104-584: The site to host the Firoz Lalji Global Hub, the departments of Mathematics, Statistics and Methodology, the Data Science Institute, and conference and executive education facilities. The new building will be designed by David Chipperfield Architects . In 2021, LSE claimed to be the first UK university to be independently verified as carbon-neutral, which it achieved by funding rainforest trees to offset emissions through

13230-648: The slave trade began in 1684, when a Captain Robert Knox was ordered to buy and transport 250 slaves from Madagascar to St. Helena . The East India Company began using and transporting slaves in Asia and the Atlantic in the early 1620s, according to the Encyclopædia Britannica, or in 1621, according to Richard Allen. Eventually, the company ended the trade in 1834 after numerous legal threats from

13356-467: The state and public sector, while Hayek and Robbins followed the Austrian School , which emphasised free trade and opposed state involvement. During World War II, the school decamped from London to the University of Cambridge, occupying buildings belonging to Peterhouse . Following the decision to establish a modern business school within the University of London in the mid-1960s, the idea

13482-408: The straits en route to Surat . The pirates gave chase and caught up with the Fateh Muhammed some days later, and meeting little resistance, took some £40,000 of silver. Every continued in pursuit and managed to overhaul Ganj-i-Sawai , which resisted strongly before eventually striking . Ganj-i-Sawai carried enormous wealth and, according to contemporary East India Company sources, was carrying

13608-529: The students' union operates the Three Tuns bar. The school's campus is noted for its numerous public art installations, which include Richard Wilson 's Square the Block , Michael Brown's Blue Rain , Christopher Le Brun 's Desert Window , and Turner Prize -winner Mark Wallinger 's The World Turned Upside Down . Since the early 2000s, the campus has undergone an extensive refurbishment project and

13734-446: The summer of 2023 over pay and casualised working conditions, the LSE management took the decision to not accept partial performance of duties and to impose pay deductions on academic staff participating in the action. The LSE also introduced an 'Exceptional Degree Classification Schemes' policy, allowing undergraduate and taught postgraduate students to be awarded provisional degrees on the basis of fewer grades than normally required. In

13860-536: The townhouses of the English countryside. Bengal in particular suffered the worst of Company tax farming, highlighted by the Great Bengal famine of 1770 . The primary tool of expansion for the company was the Sepoy. The Sepoys were locally raised, mostly Muslim, soldiers with European training and equipment, who changed warfare in present-day South Asia. Mounted forces and their superior mobility had been king on

13986-540: The upper hand by establishing a stronghold in the spice islands (now Indonesia), enforcing a near-monopoly through aggressive policies that eventually drove the EIC to seek trade opportunities in India instead. The English company opened a factory (trading post) in Bantam on Java on its first voyage, and imports of pepper from Java remained an important part of the company's trade for twenty years. English traders frequently fought their Dutch and Portuguese counterparts in

14112-514: The voyagers to set up two " factories " (trading posts) – one at Bantam on Java and another in the Moluccas (Spice Islands) before leaving. On return to England in 1603, they learned of Elizabeth's death, but Lancaster was knighted by the new king, James I , on account of the voyage's success. By this time, the war with Spain had ended but the company had profitably breached the Spanish-Portuguese duopoly; new horizons opened for

14238-575: The walled forts of Fort William in Bengal, Fort St George in Madras, and Bombay Castle . The first century of the Company, despite its original profits coming primarily from piracy in the Spice Islands between competing European powers and their companies, saw the East India Company change focus after suffering a major setback in 1623 when their factory in Amboyna in the Moluccas was attacked by

14364-510: Was a complete defeat, ending when the EIC effectively swore fealty to the Mughals to get their factories back. The East India Company's fortunes changed for the better in 1707 when Bengal and other regions under Mughal rule fell into anarchy after the death of the Mughal Emperor Aurangzeb . A series of large-scale rebellions, and the collapse of the Mughal taxation system led to the effective independence of virtually all of

14490-486: Was consulted on Indian affairs and gave even more valuable information to Lancaster. In 1599, a group of prominent merchants and explorers met to discuss a potential East Indies venture under a royal charter . Besides Fitch and Lancaster, the group included Stephen Soame , then Lord Mayor of London ; Thomas Smythe , a powerful London politician and administrator who had established the Levant Company ; Richard Hakluyt , writer and proponent of British colonization of

14616-491: Was discussed of setting up a "Joint School of Administration, Economics, and Technology" between the LSE and Imperial College . However, this avenue was not pursued and instead, the London Business School was created as a college of the university. In 1966, the appointment of Sir Walter Adams as director sparked opposition from the student union and student protests. Adams had previously been principal of

14742-720: Was enacted, which defined the duties and powers of the CAG of India. By section 2 of this legislation, the IA&;AD obtained powers for performance of its duties on behalf of the Comptroller & Auditor General. The service can be divided into officers looking after accounting and audit issues pertaining to the Union government and the state governments, and those manning the department's headquarters. The state accounts and audit offices are headed by Accountants General or Principal Accountants General. They are functionally equivalent; only

14868-541: Was established in 1611 at Masulipatnam on the Andhra Coast of the Bay of Bengal , and its second in 1615 at Surat. The high profits reported by the company after landing in India initially prompted James I to grant subsidiary licences to other trading companies in England. However, in 1609, he renewed the East India Company's charter for an indefinite period, with the proviso that its privileges would be annulled if trade

14994-1113: Was highly successful, and Jahangir sent a letter to James through Sir Thomas Roe: Upon which assurance of your royal love I have given my general command to all the kingdoms and ports of my dominions to receive all the merchants of the English nation as the subjects of my friend; that in what place soever they choose to live, they may have free liberty without any restraint; and at what port soever they shall arrive, that neither Portugal nor any other shall dare to molest their quiet; and in what city soever they shall have residence, I have commanded all my governors and captains to give them freedom answerable to their own desires; to sell, buy, and to transport into their country at their pleasure. For confirmation of our love and friendship, I desire your Majesty to command your merchants to bring in their ships of all sorts of rarities and rich goods fit for my palace; and that you be pleased to send me your royal letters by every opportunity, that I may rejoice in your health and prosperous affairs; that our friendship may be interchanged and eternal. The company, which benefited from

15120-405: Was laid by King George V in 1920; the building was opened in 1922. The school's arms, including its motto and beaver mascot, were adopted in February 1922, on the recommendation of a committee of twelve, including eight students, which was established to research the matter. The Latin motto, rerum cognoscere causas , is taken from Virgil 's Georgics . Its English translation is "to Know

15246-485: Was recognised as a Faculty of Economics of the university. The University of London degrees of BSc (Econ) and DSc (Econ) were established in 1901, the first university degrees dedicated to the social sciences. Expanding rapidly over the following years, the school moved initially to the nearby 10 Adelphi Terrace, then to Clare Market and Houghton Street. The foundation stone of the Old Building, on Houghton Street,

15372-603: Was showcased by the Anglo-Nepalese war (1814–1816). The Draft History of the Qing records the Chinese Qing dynasty as formally commencing trade with the British in 1698. Within the first two decades of the 17th century, the Dutch East India Company or Vereenigde Oostindische Compagnie , (VOC) was the wealthiest commercial operation in the world with 50,000 employees worldwide and

15498-527: Was so high between the Dutch and the British East Indies Trading Companies that it escalated into at least four Anglo-Dutch wars: 1652–1654, 1665–1667, 1672–1674 and 1780–1784. Competition arose in 1635 when Charles I granted a trading licence to Sir William Courteen , which permitted the rival Courteen association to trade with the east at any location in which the EIC had no presence. In an act aimed at strengthening

15624-662: Was the seizure of a large Portuguese carrack , the Madre de Deus , by Walter Raleigh and the Earl of Cumberland at the Battle of Flores on 13 August 1592. When she was brought in to Dartmouth she was the largest vessel ever seen in England and she carried chests of jewels, pearls, gold, silver coins, ambergris , cloth, tapestries, pepper, cloves, cinnamon, nutmeg, benjamin (a highly aromatic balsamic resin used for perfumes and medicines), red dye, cochineal and ebony. Equally valuable

15750-549: Was the ship's rutter (mariner's handbook) containing vital information on the China , India, and Japan trade routes. In 1596, three more English ships sailed east but all were lost at sea. A year later however saw the arrival of Ralph Fitch , an adventurer merchant who, with his companions, had made a remarkable nine year overland journey to Mesopotamia , the Persian Gulf , the Indian Ocean, India and Southeast Asia. Fitch

15876-688: Was unprofitable for three consecutive years. In 1615, James I instructed Sir Thomas Roe to visit the Mughal Emperor Nur-ud-din Salim Jahangir (r. 1605–1627) to arrange for a commercial treaty that would give the company exclusive rights to reside and establish factories in Surat and other areas. In return, the company offered to provide the Emperor with goods and rarities from the European market. This mission

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