HENRY DUNNING

See also:

• HENRY DUNNING MACLEOD (1821-1902),
• MACLEOD, NORMAN (1812-1872)

MACLEOD (1821-1902),  .Scottish economist, was born in Edinburgh, and educated at Eton, Edinburgh University, and Trinity College, Cambridge, where he graduated in 1843 . He travelled in Europe, and in 1849 was called to the English bar . He was employed in Scotland on the work of poor-law reform, and devoted himself to the study of economics . In 1856 he published his Theory and Practice of Banking, in 1858 Elements of Political Economy, and in 1859 A Dictionary of Political Economy . In 1873 appeared his Principles of Economist Philosophy, and other books on economics and banking were published later . Between 1868 and 187o he was employed by the government in digesting and codifying the law of bills of exchange .. He died on the 16th of July 1902 . Macleod's principal contribution to the study of economics consists in his work on the theory of credit, to which he was the first to give due prominence . For a judicious discussion of the value of Macleod's writings, see an article on " The Revolt against Orthodox Economics " in the Quarterly Review for October 1901 (No . 388) .