This book investigates the theoretical construction and practical applications of the two-sector model within the framework of general equilibrium. Harry G. Johnson, a prominent economist, synthesizes complex analytical concepts previously dispersed across academic journals and textbooks. He provides a unified structure for understanding how this model functions in the contexts of income distribution, public finance, and long-term economic growth.

Experts recognize this work as a foundational text that successfully codified the two-sector model for academic use. Readers frequently note the technical density of the prose, which is intended for students and professionals familiar with advanced economic theory.