Human Capital: Education and Health in Economic Development;Keywords: Economic growth; Educational human capital; Health human capital.
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limitation of lewis's Model of development?? what are the weekness of lewis's Models of development ?? Criticism of lewis's theory of development???7. Migration is not Easy Task.?
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This model is critici zed on theoretical and practical grounds on the basis of following points: 1. Unrealistic Assumption: ~ Constant wage rate in industrial sector ~ Unlimited Labour supply 2. Limited Supply of Skilled Labour: 3. One Sided Theory: ~ does not consider the possibility of progress in agricultural sector, thus, it is one sided theory. 4. Lack of Entrepreneurs. 5. Neglects of Aggregate Demand. 6. Unequal distribution of Income. 7. Migration is not Easy Task. 8. Savings are not done by Capitalist Sector Alone. 9. Marginal productivity of Labour is not Zero. 10. Mobility of Labour not Easy. 11. Multiplier process does not operate in LDC. 12. Adoption of Capital Intensive Techniques. 13. Leakage in Growth Process. 14. Inflation is not Self Destructive. 15. Productivity falls with Migration of Labour. 16. Inefficient Tax Administration. This are the basic problem with Lewis's theory of de