The Theory of Economic Growth

Author: W. Arthur Lewis

Synopsis by Faisal Quaiyyum Inan

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Synopsis:

The Theory of Economic Growth, a book by the pioneer of Development Economics, Sir Arthur Lewis, mainly focuses on the output and growth of an economy in accordance with the role of economic knowledge, institutions, capital, population, resources, and government in economic development. This book is a mixture of various disciplines such as economics, history, sociology, politics, and anthropology. 

This book is thought of as one of the most notable books for building the foundational stages of development economics principles. Educational Supplement states, "...it is as good a book as its most obvious predecessors in the genre: Smith's Wealth of Nations and Marshall's Industry and the Trade." 

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This book is one of the classic development economics books undoubtedly. However, this book is not very fun to read if you are not dedicated enough to learning development economics from a formal and academic perspective. Some may find it challenging to understand the concepts. Nonetheless, this book's weight in this discipline is so heavy that almost nobody dares to opt-out the name of this book while listing the books of this discipline whether they read it or not. The book gives the reader an excellent stance in the field of development economics. However, it should be noted that the book is not a very quick read. 

A good understanding of macroeconomics principles will help a lot to comprehend the contents of this book. Even though the author tries his best to give rough ideas of the necessary concepts associated with the main contents of this book, prior knowledge can assist a reader to a great extent.