The Power of Productivity by William Lewis

Decent Essays
In William Lewis’ article “The Power of Productivity” lays out a myriad of development issues that countries face in the spirit of growth. Throughout his paper he discusses barriers to growth, competition, thinking of the consumer and productivity. In this paper about Lewis’ article we will discuss the latter areas as well as a few theories that should help increase countries’ pull themselves out of the muck. Lewis goes into depth on two main points about productivity. The first being, “…it is necessary to look beyond broad macroeconomic policies…” The author does comment it is important to take it into consideration, such as exploitation, but it is required to go deeper into analysis. Each country would be better off by looking at their laws that hinder the entrance of new and foreign companies. Secondly, Lewis points out, “… the income level of a country is determined, above all, by the productivity of its largest industries.” Even though most of the largest industries are not glamorous, it is very important to a country’s productivity for these industries to thrive. Throughout history it is a proven fact that many governments try to keep certain trades protected. Unfortunately, to their dismay, this is only a hindrance to their country. Governments often times see foreign companies as taking away from their economy and want to bar them from being able to compete in the market. Competition between local and foreign companies will prove to be a benefit, either the local
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