Walter Bagehot was born in Langport, Somerset in 1826. After graduating from University College, London, he was called to the bar in 1852. He also worked as a banker before becoming joint editor of The National Review with his friend, Richard Holt Hutton.

In 1860 Bagehot succeeded his father-in-law, James Wilson, as editor of the Economist.

Bagehot was also the author of several books including the influential The English Constitution (1867). The book takes the form of a philosophical discussion about the nature of government. Bagehot also wrote Physics and Politics (1872), an attempt to apply the theory of evolution to the workings of the state and Lombard Street (1873), an analysis of the 19th century money market.

Walter Bagehot was editor of The Economist until his death in 1877.