Sir Arthur Lewis

AAA

DEFINITION of 'Sir Arthur Lewis'

A St. Lucian economist who won the Nobel Memorial Prize in Economics in 1979, along with Theodore Schultz, for his research in development economics. Sir Arthur Lewis created two models that help explain economic growth in developing economies in terms of industrial growth and labor growth.

INVESTOPEDIA EXPLAINS 'Sir Arthur Lewis'

Lewis became a professor in the London School of Economics, and later taught at the University of Manchester, the University of the West Indies and Princeton. In St. Lucia, the Sir Arthur Lewis Community College is named in his honor. He was born in 1915 in St. Lucia and earned his Ph.D. in industrial economics from the London School of Economics. Lewis died in 1991.

RELATED TERMS
  1. Economist

    An expert who studies the relationship between a society's resources ...
  2. Emerging Market Economy

    A nation's economy that is progressing toward becoming advanced, ...
  3. Economic Growth

    An increase in the capacity of an economy to produce goods and ...
  4. Human Capital

    A measure of the economic value of an employee's skill set. This ...
  5. Fintech

    Fintech is a portmanteau of financial technology that describes ...
  6. Rothschild

    A prominent family of German bankers that established banking ...
RELATED FAQS
  1. How can a change in fiscal policy have a multiplier effect on the economy?

    A change in fiscal policy has a multiplier effect on the economy because fiscal policy affects spending, consumption and ... Read Full Answer >>
  2. How do you calculate the marginal propensity to consume?

    The standard formula for calculating the marginal propensity to consume, or MPC, is marginal consumption divided by marginal ... Read Full Answer >>
  3. How is the 80-20 rule (Pareto Principle) used in management?

    The 80-20 rule, also known as the Pareto principle, is meant to express a philosophy about identifying inputs. It is not ... Read Full Answer >>
  4. What is the theory of asymmetric information in economics?

    The theory of asymmetric information was developed in the 1970s and 1980s as a plausible explanation for common phenomena ... Read Full Answer >>
  5. How is a market failure prevented with regard to public goods?

    It was once commonly accepted that any public good constituted a market failure and provided necessary and sufficient conditions ... Read Full Answer >>
  6. Can the Efficient Market Hypothesis explain economic bubbles?

    The efficient market hypothesis (EMH) cannot explain economic bubbles because, strictly speaking, the EMH would argue that ... Read Full Answer >>
Related Articles
  1. Fundamental Analysis

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  2. Economics

    The Uncertainty Of Economics: Exploring The Dismal Science

    Learning about the study of economics can help you understand why you face contradictions in the market.
  3. Economics

    Why Can't Economists Agree?

    There are many reasons why economists can be given the same data and come up with entirely different conclusions.
  4. Economics

    What Is An Emerging Market Economy?

    Emerging markets provide new investment opportunities, but there are risks - both to residents and foreign investors.
  5. Entrepreneurship

    Adam Smith And "The Wealth Of Nations"

    Adam Smith's 1776 classic may have had the largest global impact on economic thought.
  6. Investing Basics

    Muriel Siebert: Female Finance Pioneer

    Muriel Siebert has blazed many paths for investors, but is especially relevant as the first woman to sit on the NYSE.
  7. Investing Basics

    The Intelligent Investor: Benjamin Graham

    Learn about the man who mentored Warren Buffett, who eventually became the investing "Oracle of Omaha".
  8. Economics

    Adam Smith: The Father Of Economics

    This free thinker promoted free trade at a time when governments controlled most commercial interests.
  9. Professionals

    Hetty Green: The Witch Of Wall Street

    Hetty Green was the richest woman of her time and possibly the first value investor, yet she's not remembered kindly.
  10. Active Trading

    Water Cooler Finance: The iPhone Launch, Buffett's Lunch And BP's Lashing

    This week in financial news saw more uncertainty in the markets on bad news from retail, GM and BP.

You May Also Like

Hot Definitions
  1. Butterfly Spread

    A neutral option strategy combining bull and bear spreads. Butterfly spreads use four option contracts with the same expiration ...
  2. Unlevered Beta

    A type of metric that compares the risk of an unlevered company to the risk of the market. The unlevered beta is the beta ...
  3. Moving Average - MA

    A widely used indicator in technical analysis that helps smooth out price action by filtering out the “noise” from random ...
  4. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  5. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  6. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
Trading Center