Finance:W.A Lewis growth model
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The Lewis model of economic growth analyses the process of economic expansion in a dual economy. W.A Lewis put forward his views systematically in his article "Economic Development with Unlimited Supplies of Labor"[1] Lewis divides the economy of an underdeveloped country into two sectors:
The Capitalist Sector: Defined as "that part of the economy which uses reproducible capital and pays capitalists thereof". The use of capital is controlled by the capitalists, who hire the services of labor. It includes manufacturing, plantations, mines, etc.
References
- ↑ misra, puri (2010). Economics of development and planning. mumbai: Himalaya publishing house. pp. 263. ISBN 978-81-8488-829-4.
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