Review the Lewis model of economic development. In particular, discuss the following concepts: agricultural surplus, average agricultural
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Review the Lewis model of economic development. In particular, discuss the following concepts: agricultural surplus, average agricultural surplus, surplus labor, disguised unemployment, family farming, capitalist farming, and the three phases of development in the Lewis model.
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The Lewis Model of Economic Development proposed by Sir Arthur Lewis in the 1950s provides a theoretical framework for understanding the process of economic development in a dual economy The model is ...View the full answer
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