W. Arthur Lewis facts for kids
Quick facts for kids
W. Arthur Lewis
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Sir William Arthur Lewis, official Nobel Prize photo
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William Arthur Lewis
23 January 1915 Castries, Saint Lucia, British Windward Islands
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| Died | 15 June 1991 (aged 76) |
| Nationality | |
| Alma mater | London School of Economics |
| Known for |
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| Spouse(s) | Gladys Jacobs Lewis (m. 1947) |
| Children | 2 daughters |
| Awards | Nobel Memorial Prize in Economic Sciences (1979) |
| Scientific career | |
| Fields | Economics |
| Institutions |
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| Thesis | The Economics of Loyalty Contracts (1940) |
| Doctoral advisor | Sir Arnold Plant |
Sir William Arthur Lewis (born January 23, 1915 – died June 15, 1991) was a famous Saint Lucian economist. An economist studies how countries use their resources to make and share wealth. Sir Arthur Lewis was a professor at Princeton University and was known for his important ideas about how countries can grow their economies. In 1979, he won the Nobel Memorial Prize in Economic Sciences, which is a very special award for his work in economics.
Contents
Biography
Early Life
Arthur Lewis was born in Saint Lucia on January 23, 1915. At that time, Saint Lucia was part of the British Windward Islands. He was the fourth of five sons born to George Ferdinand and Ida Lewis. His parents had moved from Antigua around 1900.
When Arthur was seven years old, his father, George Lewis, passed away. This meant his mother, Ida, had to raise her five sons by herself. Arthur was a very smart student. He was so good that he skipped two grades in school.
After finishing school at 14, Lewis worked as a clerk. He was waiting until he was old enough to take an exam for a special scholarship. This scholarship would allow him to study at a British university in 1932. During this time, he became close friends with Eric Williams, who later became the first prime minister of Trinidad and Tobago.
Education and Early Career
Arthur Lewis first wanted to be an engineer. However, he realized that Black engineers would not easily find jobs in Saint Lucia. So, he decided to study business administration instead. He also planned to study law as a backup.
At 18, he won the government scholarship. He became the first Black person to be accepted at the London School of Economics (LSE). He studied for a Bachelor of Commerce degree, which included accounting, business, law, and economics. He did very well, and his professors and classmates admired his skills. At LSE, he learned from famous economists like John Hicks and Friedrich Hayek.
After graduating with top honors in 1937, LSE gave him another scholarship. This time, it was to study for his PhD in industrial economics. In 1938, Lewis became the first Black faculty member at LSE. He taught there until 1948.
Important Work and Advice
In 1947, Arthur Lewis married Gladys Jacobs. That same year, he became a lecturer at the Victoria University of Manchester in England. He moved there with his family and became Britain's first Black university lecturer. By 1948, at just 33 years old, he became a full professor. He taught at Manchester until 1957.
During his time in Manchester, he developed many of his important ideas. These ideas were about how money and jobs work in developing countries. He became especially known for his work in development economics. This field became very important as many former colonies started to become independent from European countries.
Lewis also worked as an economic advisor for many governments in Africa and the Caribbean. These included countries like Nigeria, Ghana, Trinidad and Tobago, Jamaica, and Barbados. When Ghana became independent in 1957, Lewis was chosen as their first economic advisor. He helped them create their first plan for economic growth, which ran from 1959 to 1963.
Later Life and Legacy
In 1959, Lewis returned to the Caribbean. He became the Vice Chancellor of the University of the West Indies. In 1962, he was chosen to be part of the American Academy of Arts and Sciences. The British government made him a knight in 1963 for his great work in economics.
That same year, he became a professor at Princeton University in the United States. He was the first Black instructor to become a full professor there. He later held the title of James Madison Professor of Political Economics. He also served as Chancellor of the University of Guyana from 1966 to 1973. Lewis taught at Princeton for 20 years, until he retired in 1983.
Sir Arthur Lewis also helped create the Caribbean Development Bank. In 1970, he became its first president and served until 1973.
In 1979, he received the Nobel Prize in Economics. He shared the award with Theodore Schultz. They were honored for their important research on how developing countries can grow their economies.
Sir Arthur Lewis passed away on June 15, 1991, in Bridgetown, Barbados. He was buried at the community college in Saint Lucia that was named after him.
Personal Life
In 1947, Lewis married Gladys Jacobs, who was from Grenada. They had two daughters named Elizabeth and Barbara.
Key Works
Labour in the West Indies: The Birth of a Workers' Movement (1939)
This book, first published in 1939, described the labor movement in the Caribbean during the 1930s. It was one of the only books about the workers' rebellions in the English-speaking Caribbean for many years. In this book, Lewis suggested ideas that are now seen as early calls for reparations for the Caribbean from Britain.
The "Lewis Model"
In 1954, Lewis published his most important article on development economics. It was called "Economic Development with Unlimited Supplies of Labour." In this article, he introduced what is now known as the dual sector model, or the "Lewis model."
This model explains how countries can grow their economies. Lewis said that a "capitalist" part of the economy grows by taking workers from a simpler, "subsistence" part. The subsistence part is where people might not focus on making the most money.
At first, there are many workers available from the subsistence part. This means the capitalist part can grow without needing to pay higher wages. This leads to more profits, which are then used to build more factories and businesses. As more businesses are built, they hire more workers from the subsistence part. If profits are reinvested, this process can continue and lead to a modern, developed economy.
The point when all the extra workers from the subsistence part have moved to the modern part is sometimes called the Lewisian turning point. After this point, wages might start to increase in both parts of the economy. This idea has been talked about a lot recently when studying how China's economy has grown.
The Theory of Economic Growth (1955)
In his 1955 book, The Theory of Economic Growth, Lewis wanted to create a clear way to study how economies develop. He was curious and saw a practical need for this.
He looked at the Industrial Revolution in England. England faced big economic problems during that time. But then, cities started to build factories and use more workers. This led to more production and higher incomes. Lewis believed that if England could overcome its problems, other developing countries could too. His ideas proved true for some countries, like Nigeria and Barbados, which saw economic growth.
Selected Awards and Honours
- 1963: He was made a knight for his important work in economics.
- 1979: He won the Nobel Prize in Economics.
Legacy
- The Sir Arthur Lewis Community College in St. Lucia is named after him.
- The Arthur Lewis Building at the University of Manchester (opened in 2007) is named for him. He taught there for several years.
- The Arthur Lewis Lectures are held every year at the University of Manchester. They started in 2015, which was 100 years after he was born.
- He is remembered by the Sir Arthur Lewis Institute of Social and Economic Studies (SALISES) at The University of the West Indies.
- Sir Arthur Lewis's picture is on the Eastern Caribbean 100-dollar bill.
- The Arthur Lewis Auditorium at Princeton University is named after him. It is the main hall of the Princeton School of Public and International Affairs.
- On December 10, 2020, Google honored Sir Arthur Lewis with a special Google Doodle. This was on the 41st anniversary of him receiving the Nobel Prize.
See also
In Spanish: Arthur Lewis para niños
