Surplus in Lewis's Theory of Development

Vanus James
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Vanus James: Department of Economics, University of the West Indies, St. Augustine

Review of Radical Political Economics, 1994, vol. 26, issue 4, 76-98

Abstract: An investigation of Lewis's development and use of the concept of surplus and a comparison of it with Marx's surplus value shows that this attempt to update Marxian theory with mainstream concepts was unsuccessful. Marginal productivity theory and Marx's theory of surplus value cannot be consistently developed within Lewis's analysis. Still Lewis's approach, employing classical economics from Smith to Marx, is of value to radical political economists in undeveloped capitalist economies.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:26:y:1994:i:4:p:76-98

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