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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 sector in...
Sep 22, 2018 · Abstract: This analysis updates the dual-economy model of economic development suggested by W. Arthur Lewis in 1954. The updated aggregate model incorporates advances since then in modern labor economics and the findings of empirical studies of LDC economies and it removes Lewis’ implicit assumption that capital-formation is ...
Sociology, Development Studies, Economics. W. Arthur Lewis was one of the foremost intellectuals, economists, and political activists of the twentieth century. In this book, the first intellectual biogr...
Jun 15, 1991 · Arthur Lewis was a leading figure and pioneer in the field of economic development. Lewis created two theoretical explanatory models designed to describe and explain the intrinsic problems of underdevelopment. The first model is based on the dual nature of a developing economy.
I n 1979, British citizen W. Arthur Lewis was awarded the Nobel Prize, along with theodore schultz, for “pioneering research into economic development … with particular consideration of the problems of developing countries.”
Lewis published in 1954 what was to be his most influential development economics article, "Economic Development with Unlimited Supplies of Labour" (Manchester School). In this publication, he introduced what came to be called the dual sector model , or the "Lewis model".
