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Lewis, (William) Arthur |
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Lewis, (William) Arthur (1915-1991)British economist. His Theory of Economic Growth (1955) was one of the first textbooks in the post-war era to explore the problems of the developing world. Lewis shared the Nobel Prize for Economics with US agricultural economist Theodore Schultz in 1979 for a lifetime of effort in the field of development economics. In 1954 Lewis published a paper on ‘Economic Development with Unlimited Supplies of Labour’, which spawned a whole literature on ‘dual economies’ - small, urban, industrialized sectors of economic activity surrounded by a large, rural, traditional sector, like minute islands set in a vast ocean - and put its stamp on the character of development economics for decades to come.
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