Book cover for Including A Symposium on 50 Years of the Union for Radical Political Economics
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Research in the History of Economic Thought and Methodology
Including A Symposium on 50 Years of the Union for Radical Political Economics
Author and Other Information
Emerald Publishing Limited
Volume
37A
DOI:
https://doi.org/10.1108/S0743-4154201937A
ISBN electronic:
978-1-78769-849-9
ISBN print:
978-1-78769-850-5
Series ISSN:
0743-4154
Publication date:
2019
Book Chapter

Arthur Lewis and the Classical Foundations of Development Economics

By
Mauro Boianovsky
Mauro Boianovsky
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Author and Other Information
Mauro Boianovsky
Copyright © 2019 Emerald Publishing Limited
2019
Emerald Publishing Limited
Doi:
https://doi.org/10.1108/S0743-41542019000037A009
  • Published:
    2019
Copyright © 2019 Emerald Publishing Limited
2019
Emerald Publishing Limited

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.

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