Lipson was the son of a Jewish furniture dealer and first attended the Sheffield Royal Grammar School. He then studied at Trinity College, Cambridge, he graduated in 1910 with honors in history.
After graduating, he worked as an independent researcher and tutor at the University of Oxford working, later he taught at Cambridge (1921-1931), then at Boston University (1932-1933) and from 1933 at the University of California.
Lipson in 1926 next to Eileen Power and R. H. Tawney, the third co-founder of the Economic History Society.
His written heritage is found in the British Library of Political and Economic Science in stock for the Economic History Society.
- Editor of "Economic History Review " (1921-1934) ( with Richard Henry Tawney ( 1880-1962 ), Michael Moissey Postan ( 1899-1981 ), HJ Habbakuk, Economic History Society)
- The economic history of England, 3 vols. , 1915-1931
- Europe in the nineteenth century, 1916
- The history of the English woolen and worsted industries, 1921
- Increased Production in 1921
- The inventions, 1934
- Europe, 1914-1939
- A planned economy and free enterprise, 1944