Lewis' Model of Economic Development (HINDI)

Описание к видео Lewis' Model of Economic Development (HINDI)

A development model "Economic Development with Unlimited Supply of Labour" was presented by Professor Arthur Lewis in early 1950s, was based on the belief that there exists (in over-populated underdeveloped economies) labour of zero marginal value in the agricultural sector and therefore can be withdrawn from agriculture without affecting the sector's output and can be deployed in modern industrial sector at subsistence wage rate.

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