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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 […]

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 […]

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