... by Fei and Ranis (1975) regarding the economic development in Taiwan and Korea showed the importance of labor migration which is towards the support of the Lewis model. Once again this is another example of Lewis's model; significance towards economic development. CRITICISMS OF THE LEWIS'S TWO SECTOR MODEL OF ECONOMIC DEVELOPMENT Although, the Lewis model was instrumental in establishing the foundation for developmental economics and roughly reflects the historical experiences of western economic growth, they are a few ... to improve aggregate welfare measures).The above discussion can ...

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• Grade Level: Undergraduate