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Henry Dunning Macleod
Scottish "maverick" economist

Henry Dunning Macleod was a Scottish economist. He was educated in mathematics, graduated in 1843 and was called to the bar in 1849. He worked in Scotland to improve the system of poor law relief. In 1853 he was made director of the Royal British Bank. This sparked his interest in the economics of banking and money. Apart from that he also developed a strong interest in – at that time – deviant theories on value. In 1863 he made a first attempt to publish an encyclopaedia of political economy. He only published one volume (A-C).



Some works of Macleod are:[1]

  • 1855-6: Theory and Practice of Banking (external scans (multiple parts): 1, 2)
  • 1858: The Elements of Political Economy (external scan)
  • 1863: A Dictionary of Political Economy : Biographical, bibliographical, historical and present – Volume 1 (A-C) (external scan) and (external scan)

Article in Popular Science MonthlyEdit

Works about Henry Dunning MacLeodEdit


  1. For a more complete overview see: this page on the History of Economic Thought website.


Works by this author published before January 1, 1924 are in the public domain worldwide because the author died at least 100 years ago. Translations or editions published later may be copyrighted. Posthumous works may be copyrighted based on how long they have been published in certain countries and areas.