1. The Lewis Model of Development
The process of economic development has been usually seen as a transformation from the rural agricultural sector to the urban manufacturing sector in developing countries. ... This means that the loss of labor in the traditional agriculture sector does not reduce agricultural production as a result of migration of labor to the modern sector. ... AN OVERVIEW: THE LEWIS MODEL OF DEVELOPMENT The important feature of the Lewis model is that the economy consists of two sectors; an agricultural, rural or subsistence sector and an industrial, urban or capitalist sector. ... Lewis claimed that worke...
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- Approx Pages: 18
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- Grade Level: Undergraduate