word
Lewis turning point
LOO-is TER-ning POINT
ˈluːɪs ˈtɜːrnɪŋ pɔɪntListen
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Syllable breakdown
Lewisturningpoint
Dictionary meaning
the stage in economic development at which the surplus labor in the traditional agricultural sector is fully absorbed by the modern industrial sector; wages then begin to rise significantly; named after W. Arthur Lewis; marks the transition from labor surplus to labor scarcity in a developing economy
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