Arthur Lewis Quotes

Powerful Arthur Lewis for Daily Growth

About Arthur Lewis

Arthur Lewis (1915-1979) was a renowned economist and recipient of the Nobel Prize in Economic Sciences in 1979, just a few months before his untimely death. Born on February 3, 1915, in Castries, St. Lucia, Lewis grew up amidst the economic hardships of the British Caribbean colony, which significantly influenced his later work and theories. He completed his early education in St. Lucia and went on to study economics at the London School of Economics (LSE), where he graduated in 1938. In 1942, Lewis joined the United Nations Regional Commission for Latin America as a research officer, where he began developing his groundbreaking theories on economic development. His work during this period culminated in the publication of "Economic Development with Unlimited Supplies of Labour" (1954), a seminal text that introduced the concept of 'unlimited supplies of labor,' which later became known as the Lewis Model or Two-Sector Theory. Lewis moved to Princeton University in 1958, where he continued his work on economic development and published "The Theory of Economic Growth" (1955) and "The Theory of Shopping" (1963). His research emphasized the role of government policies in promoting economic growth, particularly through investment in infrastructure and education. In 1972, Lewis became the first Caribbean-born economist to be appointed as a professor at Harvard University. He continued his scholarly pursuits until his death on May 15, 1979. Arthur Lewis's contributions to economics have left a lasting impact on developmental theories and policies around the world. His works continue to inspire researchers and policymakers seeking to understand and improve economic growth in developing countries.

Interpretations of Popular Quotes

"In the West Indies and in the United States there are two classes of laborers; those who work and those who have to."

This quote by Arthur Lewis highlights a profound societal divide, particularly in Western societies including the Caribbean (West Indies) and the United States, during his time. He suggests that there exist two distinct groups of workers: those who are gainfully employed and productive ("those who work"), and those who, due to various circumstances such as systemic inequality or lack of opportunity, are economically disadvantaged and struggling ("those who have to"). This observation underscores the economic disparity between social classes and the need for policies that address systemic issues to create a more equitable society.

"Capitalism as I see it today is a system in which certain persons or groups of persons hold the power of investment and control the productive resources, and these persons make their decisions on the basis of what will yield them the highest profits."

This quote by Arthur Lewis implies that modern-day capitalism is characterized by a small group of individuals or entities having significant control over financial investments and productive resources. Their decision-making process prioritizes maximizing profits, rather than serving broader societal needs or promoting equality. In essence, Lewis suggests that the capitalist system as it exists today caters primarily to the interests of those who wield economic power, potentially leading to income inequality and other socioeconomic issues.

"Under capitalism, man exploits man. Under socialism, it's the opposite."

This quote by Arthur Lewis suggests a contrast between capitalism and socialism regarding how resources are distributed and who benefits from them. In a capitalist system, the focus is on individual profit, which can lead to one group (capitalists or business owners) exploiting another (workers). On the other hand, in a socialist system, the goal is collective welfare, so the "opposite" implies that the state or society as a whole would exploit the individual for the common good. However, it's essential to remember that both systems have complexities and criticisms; this quote offers a simplified, idealized perspective.

"The theory of marginal productivity is a myth."

Arthur Lewis, a Nobel laureate in economics, challenged the concept of Marginal Productivity Theory (MPT) by suggesting that it's not as universally applicable as some may believe. According to MPT, the extra output produced by an additional unit of input is assumed to decrease with each subsequent unit added. Lewis argued that this theory does not fully account for real-world scenarios where technology, productivity growth, and other factors can cause marginal productivity to increase or remain constant despite more labor being employed in certain industries or periods. In essence, Lewis suggested that the theory oversimplifies economic dynamics and fails to capture the complexity of the labor market.

"I do not believe in the concept of 'human nature.' I believe that people are born neutral and become good or bad according to their environment."

This quote suggests that human behavior is significantly shaped by environmental factors rather than innate qualities or a predetermined "human nature." The notion that people can be inherently good or bad is rejected in favor of the idea that individuals develop into moral beings based on their upbringing, experiences, and surroundings. It emphasizes the potential for positive change through nurturing and supportive environments.

The subsistence level is only a conventional idea, and conventions change.

- Arthur Lewis

Level, Idea, Conventional, Subsistence

In 1938, I was given a one-year teaching appointment, which was sensational for British universities. This was converted into the usual four-year contract for an Assistant Lecturer in 1939.

- Arthur Lewis

Which, Given, Usual, Appointment

Trade allegedly does not foster growth because when it begins, a flood of imports of factory origin destroys the handicraft manufacturing of the less developed country: the models for this are the effects of British exports of textiles and of iron in India and Chile in the first half of the nineteenth century.

- Arthur Lewis

Country, Exports, Half, Manufacturing

Two conditions of self-sustaining growth are that a country has acquired a cadre of domestic entrepreneurs and administrators and, secondly, that it has attained to adequate savings and taxable capacity.

- Arthur Lewis

Country, Adequate, Taxable

I was born in St. Lucia on January 23, 1915. My parents, who were both school teachers, had immigrated there from Antigua about a dozen years before.

- Arthur Lewis

Born, I Was Born, Before, January

We cannot give our students all that they expect, whether by way of the quality of their schooling or by way of the jobs that they were hoping to get. Student frustration is a worldwide phenomenon, pushing our societies into adjusting faster than they are used to.

- Arthur Lewis

Student, Students, We Cannot, Schooling

The strength of the scientific establishment in any country is related to its general level of education, not only in supplying large numbers of eager minds for further training, but also in ensuring a public opinion that holds science in esteem and approves financial support.

- Arthur Lewis

Strength, Education, Country, Approve

Science affects all our ways of thinking about the world: both the physical world, which, if I may make so bold, is easy to understand because it is regular and follows simple laws, and also the social world, which is more baffling and less predictable.

- Arthur Lewis

Simple, About, Our, Regular

Education is the great growth industry of the Third World. Since the Second World War, we have multiplied the number of children in school by four, with even larger multiples for secondary and university education.

- Arthur Lewis

Larger, Third World, Secondary

My father died when I was seven, leaving a widow and five sons, ranging in age from five to seventeen. My mother was the most highly-disciplined and hardest working person I have ever known, and this, combined with her love and gentleness, enabled her to make a success of each of her children.

- Arthur Lewis

Love, Father, Widow, Seventeen

When I was seven, I had to stay home for several weeks because of some ailment, whereupon my father elected to teach me so that I should not fall behind. In fact, he taught me in three months as much as the school taught in two years, so, on returning to school, I was shifted from grade 4 to grade 6.

- Arthur Lewis

Behind, Some, Weeks, Ailment

We need no elaborate statistical proof that trade depends on prosperity in the industrial countries.

- Arthur Lewis

Elaborate, Statistical, Proof

When the developed grow fast, the developing grow fast, and when the developed slow down, the developing slow down.

- Arthur Lewis

Slow, Grow, Fast, Developed

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