The Lewis Model of Development
In the 1950s, St Lucian economist Sir William Arthur Lewis theorised the ‘Dual Sector Model’ or the ‘Lewis Model’. The model examines structural change within developing economies which results in rapid periods of economic growth. The Lewis model centres upon a dualistic economy, which is split into the agricultural “subsistence” sector and the industrial “modern” sector. This divide can be simplified to those working in … Continue reading The Lewis Model of Development
