Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/172300
Authors: 
Boianovsky, Mauro
Year of Publication: 
2017
Series/Report no.: 
CHOPE Working Paper 2017-08
Abstract: 
Lewis argued that his 1954 model of economic development in a dual economy was based on the classical framework originally advanced by Smith, Malthus, Ricardo and Marx. The present paper provides a detailed investigation of how Lewis adopted and adapted classical concepts such as productive/unproductive labor, economic surplus, subsistence wages, reserve army, capital accumulation etc. The Lewis 1954 model is set in the context of other growth and development models put forward at the time by Harrod, Domar, Swan, Kaldor, Solow, Nurkse, Rosenstein-Rodan, Myint and others. The heuristic role of the history of economic thought in Lewis's works is examined, as well as the influence of his LSE background. Lewis elaborated models of dual economies on both domestic and international levels, with distinct aims and results.
Subjects: 
Lewis
classical economics
dual economies
terms of trade
economic development
JEL: 
B12
B29
B31
Document Type: 
Working Paper

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