Which economist shared the 1979 Nobel Prize in Economics with Arthur Lewis?

Theodore Schultz shared the 1979 Nobel Prize in Economics with Arthur Lewis.

Schultz was recognized for pioneering research into economic development, especially research on development problems in developing countries. His work emphasized that people are forms of capital because education, health, and skills can raise productivity.

Schultz’s ideas helped establish human capital as a central subject in economics. He argued that agricultural workers and farmers make purposeful investment decisions rather than behaving as passive participants in traditional economies.

Arthur Lewis shared the prize for pioneering research into economic development, with particular attention to the relationship between traditional and modern sectors. The two laureates approached development from different but complementary perspectives.