The story
History: facts, each with its source
Wikipedia says the design uses the top of a telescopic damper as the upper steering pivot. It is named after the American engineer Earle S. MacPherson, who became chief engineer of Chevrolet's Light Car project in 1945. The Chevrolet Cadet, meant to be its first car with struts, was cancelled in 1947.1
Wikipedia says the strut is simple, has fewer joints to wear and can be built ahead as one unit, so it is almost everywhere among low-cost makers. It is not generally thought to handle as well as a double wishbone or multi-link suspension, and ride suffers because the shock absorber moves almost as far as the wheel.1