It was founded in 1843 by Scotsman James Wilson with assistance from the Anti-Corn Law League as a voice against England’s Corn Laws, regulations governing the import and export of grain. Wilson’s son-in-law Walter Bagehot, who served as editor of The Economist from 1861 to 1877, expanded the publication’s coverage into politics and strengthened its focus on U.S. affairs. A later admirer of Bagehot's was Woodrow Wilson, president of the United States from 1913 to 1921.
In 1992 WT Layton was appointed as editor. His editorship was of profound importance to the newspaper, and he was probably the person to whom it owes most thanks for its survival and continued independence.The Economist is classically liberal and economically liberal. It supports free trade, globalization, and the legalization of same-sex marriage and illegal drugs. It targets highly educated readers, as well as famous people such as Bill Gates, Ronald Reagan, Margaret Thatcher, and Ted Turner.