Article
Details
Citation
Ghosh D (2007) The metamorphosis of Lewis's dual economy model. Journal of Economic Methodology, 14 (1), pp. 5-25. https://doi.org/10.1080/13501780601170032
Abstract
Abstract This paper argues that Arthur Lewis originally presented the problem of economic development in terms of an open system, in the sense that it focused on a number of possible pitfalls and socio-economic constraints in the process of capital accumulation and industrialization in a labour-surplus economy. In the hands of the neoclassical economists, who were predominantly interested in achieving deterministic equilibrium results by introducing strict assumptions, the theoretical system later became closed – something Lewis never intended.
Keywords
Economic development; Dual economy models; Develo[pment methiodology; marketable surplus; Open system; Closed system
Journal
Journal of Economic Methodology: Volume 14, Issue 1
Status | Published |
---|---|
Publication date | 31/03/2007 |
Publication date online | 09/09/2007 |
URL | |
Publisher | Taylor & Francis |
ISSN | 1350-178X |
eISSN | 1469-9427 |