To read the full version of this content please select one of the options below:

Arthur Lewis and the Classical Foundations of Development Economics

Including A Symposium on 50 Years of the Union for Radical Political Economics

ISBN: 978-1-78769-850-5, eISBN: 978-1-78769-849-9

ISSN: 0743-4154

Publication date: 7 May 2019

Abstract

This article provides a detailed investigation of how Lewis revisited classical and Marxian concepts such as productive/unproductive labor, economic surplus, subsistence wages, reserve army, and capital accumulation in his investigation of economic development. The Lewis 1954 development model is compared to other models advanced at the time by Harrod, Domar, Swan, Kaldor, Solow, von Neumann, Nurkse, Rosenstein-Rodan, Myint, and others. Lewis applied the notion of economic duality to open and closed economies.

Keywords

Acknowledgements

Acknowledgments

I would like to thank Joaquim Andrade, Edmar Bacha, Amitava Dutt, Ben Fine, Geoff Harcourt, Gilberto Tadeu Lima, Cosimo Perrotta, Jaime Ros, Ana M. Bianchi, Carlos E. Suprinyak, Joanilio Teixeira, Tony Thirlwall, and Robert Tignor for their helpful comments. I have also benefited from the suggestions by two anonymous referees. A research grant from the Brazilian Research Council (CNPq) is gratefully acknowledged.

Citation

Boianovsky, M. (2019), "Arthur Lewis and the Classical Foundations of Development Economics", Including A Symposium on 50 Years of the Union for Radical Political Economics (Research in the History of Economic Thought and Methodology, Vol. 37A), Emerald Publishing Limited, Bingley, pp. 103-143. https://doi.org/10.1108/S0743-41542019000037A009

Publisher

:

Emerald Publishing Limited

Copyright © 2019 Emerald Publishing Limited