Layton, Walter Thomas (1884–1966)
Variously occupied as academic economist, civil servant, economic journalist, economic adviser and newspaper magnate, Layton was a product of Cambridge before World War I. Born at Chelsea on 15 March 1884, he was educated at Westminster City School, University College, London (1901–4) and Trinity College, Cambridge. He came up to Cambridge in 1904 to read economics (the new Tripos having been established only the year before) and took a double First. In 1908 Pigou engaged him as an assistant lecturer (paying him out of his own pocket, much as Marshall had done with Pigou), in 1909 he was elected into a fellowship at Caius College, and in 1911 he was appointed University Lecturer. World War I took him out of Cambridge, first to the Board of Trade and then to the Ministry of Munitions. In 1921 he succeeded Hartley Withers as editor of the Economist where he remained until 1938, though his association with it continued and when he died in 1966 he was still vice-chairman of the board.