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Arthur Lewis and the Classical Foundations of Development Economics

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

Author

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  • Mauro Boianovsky

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.

Suggested Citation

  • Mauro Boianovsky, 2019. "Arthur Lewis and the Classical Foundations of Development Economics," Research in the History of Economic Thought and Methodology, in: Including A Symposium on 50 Years of the Union for Radical Political Economics, volume 37, pages 103-143, Emerald Group Publishing Limited.
  • Handle: RePEc:eme:rhetzz:s0743-41542019000037a009
    DOI: 10.1108/S0743-41542019000037A009
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    More about this item

    Keywords

    Lewis; classical economics; Marx; dual economies; economic development; capital accumulation; B12; B29; B31;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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