In 2008 Advertising Age magazine named The Economist “The Magazine of the Year” for its “crisp example of excellence in editorial, ad sales, circulation and marketing.” The Economist is a distinctive publication that is growing in popularity in the U.S. James Wilson, a Scottish scholar, politician, economist and entrepreneur started The Economist in 1843. Wilson started The Economist as a newspaper to campaign for free trade and was the chief editor and sole proprietor of the publication for 16 years.

Wilson believed in free trade, internationalism and minimum intrusion by governments, especially when it comes to the market. Wilson was spurred to establish The Economist because of his dislike for the protectionist Corn Laws, which were repealed in 1846. Since 1928, half the shares have been owned by the Financial Times, a subsidiary of Pearson, the other half by a group of independent shareholders, including many members of the staff. The editor’s independence is guaranteed by the existence of a board of trustees, which formally appoints him and without whose permission he cannot be removed.