The School of Economic Science (SES) was founded in London in 1937 by Leon MacLaren. The establishment of the School occurred partly in response to the great economic depression in the early 1930s, which had a devastating effect on the economic and social welfare of many. As a result, the central subject of the early studies in the School was economic science (as it was then called) and how economic justice might be achieved through equitable distribution of wealth and fair taxation. However, as these studies continued they led to fundamental philosophical questions about the nature of human society, the role of human beings, and the nature of creation. Philosophy soon became the central area of study within the School, and in the 1950s philosophy courses were offered to the public for the first time.

In 1961 Leon MacLaren made contact with a leading figure of an ancient philosophical and spiritual tradition in India, Shri Shantananda Saraswati; the Shankaracharya of the northern seat of that tradition. The first meeting between the two in 1965 opened up a new direction in the School's studies. The Shankaracharya offered guidance on the study of the ancient philosophical and scriptural writings of India, which form the basis of the philosophy called Advaita Vedanta, and on the practice of meditation.

Today, the study of philosophy founded on Advaita Vedanta remains the central subject in the School and forms the essential reference for all other studies. Economics continues to be studied also, but in addition other groups were established in the 1970s to study subjects such as art, architecture, astronomy, calligraphy, dance, education, music, Renaissance studies, language, science and Vedic mathematics.

There are over 40 established branches of SES around the UK and many others internationally. The school in the North East of England is known locally, as the "School of Philosophy" rather than SES. The content and direction of the studies and practices in the School are now overseen by Donald Lambie, who took over the leadership when Leon MacLaren died in 1994.

For SES main website: www.schooleconomicscience.org

The School is affiliated to the registered educational charity: The fellowship of the School of Economic Science, charity no 313115. No remuneration is paid for tutoring within the School. Fees paid by students provide the main contribution towards the general costs of running the organisation and providing and maintaining its buildings.