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  2. Dual-sector model - Wikipedia

    en.wikipedia.org/wiki/Dual-sector_model

    Initially enumerated in an article entitled "Economic Development with Unlimited Supplies of Labor" written in 1954 by Sir Arthur Lewis, the model itself was named in Lewis's honor. First published in The Manchester School in May 1954, the article and the subsequent model were instrumental in laying the foundation for the field of Developmental ...

  3. W. Arthur Lewis - Wikipedia

    en.wikipedia.org/wiki/W._Arthur_Lewis

    Sir William Arthur Lewis (23 January 1915 – 15 June 1991) was a Saint Lucian economist and the James Madison Professor of Political Economy at Princeton University. [2] Lewis was known for his contributions in the field of economic development .

  4. Dual economy - Wikipedia

    en.wikipedia.org/wiki/Dual_economy

    Sir Arthur Lewis used the concept of a dualistic economy as the basis of his labour supply theory of rural-urban migration. Lewis distinguished between a rural low-income subsistence sector with surplus population, and an expanding urban capitalist sector (see Dual-sector model). The urban economy absorbed labor from rural areas (holding down ...

  5. Lewis turning point - Wikipedia

    en.wikipedia.org/wiki/Lewis_turning_point

    The Lewis turning point is a situation in economic development where surplus rural labor is fully absorbed into the manufacturing sector. This typically causes agricultural and unskilled industrial real wages to rise. The term is named after economist W. Arthur Lewis. Shortly after the Lewis point, an economy requires balanced growth policies. [1]

  6. Development economics - Wikipedia

    en.wikipedia.org/wiki/Development_economics

    There are two major forms of structural-change theory: W. Lewis' two-sector surplus model, which views agrarian societies as consisting of large amounts of surplus labor which can be utilized to spur the development of an urbanized industrial sector, and Hollis Chenery's patterns of development approach, which holds that different countries ...

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  8. Development theory - Wikipedia

    en.wikipedia.org/wiki/Development_theory

    Human development theory is a theory which uses ideas from different origins, such as ecology, sustainable development, feminism and welfare economics. It wants to avoid normative politics and is focused on how social capital and instructional capital can be deployed to optimize the overall value of human capital in an economy.

  9. Theodore Schultz - Wikipedia

    en.wikipedia.org/wiki/Theodore_Schultz

    Schultz was awarded the Nobel Prize jointly with Sir William Arthur Lewis in 1979 for his work in development economics, focusing on the economics of agriculture. He analyzed the role of agriculture within the economy, and his work has had far reaching implications for industrialization policy, both in developing and developed nations.