Understanding Arthur Lewis's Economic Development Theory

Explore Arthur Lewis's Dual Sector Model and its impact on economic development and productivity growth.

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Arthur Lewis's theory, known as the Lewis Model or Dual Sector Model, explains economic development. He proposed that economies transition from a traditional agricultural sector with surplus labor to a modern industrial sector. This shift leads to increased productivity and economic growth as surplus labor moves to industry, improving overall living standards and development.

FAQs & Answers

  1. What is the Lewis Model? The Lewis Model, proposed by Arthur Lewis, describes the transition of economies from a traditional agricultural sector to a modern industrial sector.
  2. How does the Dual Sector Model explain economic growth? The Dual Sector Model explains that moving surplus labor from agriculture to industry increases productivity and drives economic growth.
  3. Who was Arthur Lewis? Arthur Lewis was a prominent economist known for his contributions to the understanding of economic development through his Dual Sector Model.
  4. What is the significance of surplus labor in the Lewis Model? In the Lewis Model, surplus labor in the agricultural sector is crucial as it provides the workforce for industrialization, facilitating economic development.

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