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The National Economic Association introduced the W. Arthur Lewis Distinguished Lecture series in December 1985. The Lewis Lecture is named in honor of the 1979 Nobel Laureate in Economics, much of whose research has been devoted to the problem of Third World economic development. A native of St. Lucia, in the former British West Indies, Arthur Lewis has risen to fame as the preeminent development economist of his generation. He is most famous for his 1954 Manchester School paper on economic development with unlimited supplies of labor, but his contributions span the fields of industrial organization, public finance, and international trade. He was one of the first to explore in depth the evidence on movements on terms of trade between industrialized and developing countries and was the first to perform a regression analysis in empirical trade research. Lewis was an active advisor to various governments in West Africa, the Caribbean, and Southeast Asia during the development decades. He says that he conceived of the idea of unlimited supplies of labor while on mission in Bangkok, Thailand in 1952. This third lecture in the series, by Professor Charles Kindleberger, examines the broad applicability of the Lewis model. Barbara A. P. Jones 1987 NEA President