Search results
In this article we will discuss about the Lewis model of economic development. A number of economists attempted to analyse development in the context of a ‘labour-surplus economy’. These theories owe their origin to the celebrated work of Nobel Laureate Sir W. Arthur Lewis in 1954.
W. Arthur Lewis' best-known contribution to development economics was his path-breaking work on the transfer of labour from a traditional to a modern capitalist...
Mar 6, 2023 · What is the Lewis Model of Structural Economic Growth and Development? Arthur Lewis put forward a development model of a dualistic economy, consisting of rural agricultural and urban manufacturing sectors. Initially, the majority of labour is employed upon the land, which is a fixed resource.
Arthur Lewis’ seminal 1954 paper and its emphasis on dualism appeared at a time when neither the work of Keynes or Harrod-Domar nor the later neoclassical production function of Solow seemed relevant for developing countries.
Jul 2, 2024 · Sir Arthur Lewis was an economist who made significant contributions to development economics and was awarded the Nobel Prize in Economics in 1979.
THE LEWIS MODEL AND DEVELOPMENT THEORY* by P. F. LEESON [Jniversily of Manchatey When, in Nay 1954, The Munchester School published “Economic Development with Unlimited Supplies of Labour” by Arthur Lewis, development econoniics was in its infancy. The twenty-five years of
It is usually claimed that Lewis’s simple model is based on classical school foundations, i.e. it contains two sectors, agriculture and non-agriculture, with different, i.e. asymmetric, behavior postulated for each. This basic heritage notion is generally accepted, but, if one looks more closely, one will also see substantial deviations.
