Tag Archives | Lewis Model of Economic Development

The Lewis Model of Economic Development

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. An elaborate discussion of the labour-surplus economy is given by G. Ranis and John [...]

By Nipun S|2017-01-13T05:55:11+05:30January 13, 2017|Economic Development|Comments Off

Lewis Model of Economic Development

In this article we will discuss about: 1. Introduction to the Lewis Model 2. Assumptions of the Lewis Model 3. Working 4. Role of Bank Credit 5. Critical Review. Introduction to the Lewis Model: Lewis published his model entitled: "Economic Development with Unlimited Supplies of Labour" in 1954. In his model Lewis divides the economy in an underdeveloped country in [...]

By Harsh Aditya|2016-08-18T11:20:59+05:30August 18, 2016|Agricultural Economics|Comments Off