W.W. Rostow's stages of economic growth
• Rostow analyzed the process of economic growth by
advocating the stages through which an economy passes to
become developed
• Rostow argues that all countries exist somewhere on a
linear spectrum and climb upward through five stages in the
development process.
• The five stages are:
- Traditional Society
- Pre-Conditions for take
- Take off
- Drive to Maturity
- The Age of High Mass Consumption