tailieunhanh - Lecture Development economics - Lecture 18: Lewis model of unlimited supply of labor

Lecture Development economics - Lecture 18: Lewis model of unlimited supply of labor. Rural-Urban Migration Model is the model of dual economy which states that: "Economies have a backward agricultural sector and have an advanced industrial sector. The backward sector has big amount of disguised unemployment, which by transferring to advanced sector can be utilized and process of capital formation can be started". | Rural-Urban Migration Model Lecture 18 Rural-Urban Migration Model is the model of dual economy which states that: "Economies have a backward agricultural sector and have an advanced industrial sector. The backward sector has big amount of disguised unemployment, which by transferring to advanced sector can be utilized and process of capital formation can be started". In this respect, we shall study three models: 1. Lewis Model of Unlimited Supply of Labor Arthur Lewis in the mid 1950s presented his model of unlimited supply of labor or of surplus labor economy. By surplus labor it means that part of manpower which even if is withdrawn from the process of production there will be no fall in the amount of output. Assumptions of the Lewis Model: Lewis model makes the following assumptions: (i) There is a duel economy ., the economy is characterized by a traditional, over-populated rural subsistence sector furnished with zero MPL, and the high productivity modern urban industrial sector. (ii) The subsistence sector does not make the use of 'Reproducible Capital', while the modern sector uses the produced means of capital. (iii) The production in the advanced sector is higher than the production in traditional and backward sector. (iv) The supply of labor is perfectly elastic. In other words, the supply of labor is greater than demand for labor. Sources of unlimited supply of labor in UDCs. (i) Because of severe increase in population more, than required number of labors are working with lands, the so called disguised unemployed. (ii) In UDCs so many people are having temporary and part time jobs, as the shoe-shines, loaders, porters and waiters etc. There will be no fall in the production even their number are one halved. (iii) The landlords and feudal are having an army of tenants for the sake of their influence, power and prestige. They do not make any contribution towards production, and they are prepared to work even at less than subsistence wages. (iv) The . | Rural-Urban Migration Model Lecture 18 Rural-Urban Migration Model is the model of dual economy which states that: "Economies have a backward agricultural sector and have an advanced industrial sector. The backward sector has big amount of disguised unemployment, which by transferring to advanced sector can be utilized and process of capital formation can be started". In this respect, we shall study three models: 1. Lewis Model of Unlimited Supply of Labor Arthur Lewis in the mid 1950s presented his model of unlimited supply of labor or of surplus labor economy. By surplus labor it means that part of manpower which even if is withdrawn from the process of production there will be no fall in the amount of output. Assumptions of the Lewis Model: Lewis model makes the following assumptions: (i) There is a duel economy ., the economy is characterized by a traditional, over-populated rural subsistence sector furnished with zero MPL, and the high productivity modern urban industrial .

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