Is Dualism Worth Revisiting?

21 Pages Posted: 6 Nov 2003

See all articles by Gustav Ranis

Gustav Ranis

Yale University - Department of Economics (Deceased)

Date Written: September 2003

Abstract

The dual economy model, built on classical foundations, served as the cornerstone of development theory for several decades after World War II. It subsequently came under neo-classical micro-econometric attack and has fallen into general disuse, at least within the Anglo-Saxon academic establishment. This paper presents a brief intellectual history of the framework and tries to respond to some of the criticisms that have been leveled against it - some peripheral, others central. We then proceed to inquire into the usefulness of the dual economy model for understanding both historical and contemporary real world situations and for development policy. We conclude by asking whether recent theoretical developments in economics offer an opportunity for reassessing the relevance of the model. New-Classical Theory

Keywords: Dualism, Economic Development, Classical Theory,

JEL Classification: O11

Suggested Citation

Ranis, Gustav, Is Dualism Worth Revisiting? (September 2003). Available at SSRN: https://ssrn.com/abstract=464240

Gustav Ranis (Contact Author)

Yale University - Department of Economics (Deceased)

United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
668
Abstract Views
4,576
Rank
81,760
PlumX Metrics