Open AccessDevelopment of the Labour Surplus Economy (Review Article )
Author(s) -
Nurul Islam
Publication year - 1965
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v5i2pp.271-294
Subject(s) - economics , context (archaeology) , growth model , extension (predicate logic) , economic surplus , economic sector , economy , keynesian economics , market economy , history , archaeology , computer science , welfare , programming language
The concept of surplus labour has featured prominently in therecent literature on economic development of underdeveloped,overpopulated economies. W. A. Lewis in his two celebrated articles [1Jattempted a precise formu¬lation of the concept of surplus labour andsought to analyse its implications for the strategy of economicdevelopment in the context of a two sector model of economic growth.Messrs. J. C. H. Fei and Gustav Ranis have undertaken in this book1 anelaborate extension of the two-sector growth model of W. A. Lewis. Themajor directions in which the authors have sought to extend or elaboratethe model and the main results of their efforts in this respect arecontained in their earlier article "Unlimited Supply of Labour and theConcept of Balanced Growth", published in the Pakistan DevelopmentReview, Winter 1961, Vol. 1, No. 3. The various sections of the articlehave now been expanded and elaborated into chapters of thebook*.