|Appears in Collections:||Economics Journal Articles|
|Peer Review Status:||Refereed|
|Title:||The metamorphosis of Lewis's dual economy model|
Dual economy models
|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.|
|Rights:||Published in Journal of Economic Methodology by Taylor & Francis.|
|Lewis-JEM-07.pdf||Fulltext - Published Version||132.43 kB||Adobe PDF||View/Open|
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