John Ramsay McCulloch

John Ramsay McCulloch
John Ramsey McCulloch by Daniel Macnee
Born	(1789-03-01)1 March 1789 Whithorn, Wigtownshire
Died	11 November 1864(1864-11-11) London
Nationality	Scottish
School or tradition	Classical economics
Influences	Adam Smith, David Ricardo

John Ramsey McCulloch (1 March 1789 – 11 November 1864) was a Scottish economist, author and editor, widely regarded as the leader of the Ricardian school of economists after the death of David Ricardo in 1823. He was appointed the first professor of political economy at University College London in 1828. He wrote extensively on economic policy, and was a pioneer in the collection, statistical analysis and publication of economic data.

McCulloch was a co-founder, and one of the first editors, of The Scotsman newspaper, and worked on the Edinburgh Review. He edited the 1828 edition of The Wealth of Nations.

McCulloch attended the University of Edinburgh, but did not graduate.

McCulloch collected the early literature of political economy, and wrote on the scope and method of economics and the history of economic thought. After his death his library was purchased by Lord Overstone and eventually presented to the University of Reading. He was a participant in the Political Economy Club, London, founded by James Mill and a circle of friends in 1821 for an ongoing discussion of the fundamental principles of political economy.

McCulloch's works include a textbook, Principles of Political Economy (Edinburgh 1825). He worked on subsequent editions until his death. This book contains a memorable discussion of the origins of profit or interest in the case of a cask of new wine.