Walt Whitman Rostow's Model of Economic Growth - A Historical Perspective
Chandan Surabhi Das
Barasat Govt. College
Walt Whitman Rostow
was an
economist who developed a theory of
how a country's economy develops
and grows, and in 1960 he took a
crack at addressing these issues in his
book,
The Stages of Economic
Growth.
Five stages of economic development
Walt Rostow
took a historical approach in suggesting
that
developed countries
have tended to pass
through 5 stages to reach their current degree of
economic development.
Rostow penned "Stages of Economic Growth" in 1960,
which presented five steps through which all countries
must pass to become developed:
1)
traditional society
, 2) preconditions to take-off, 3)
take-off, 4) drive to
maturity
and 5) age of high mass
consumption.
Rostow's Model in Context: Merits
Rostow's Stages of Growth model is one of the most
influential development theories of the 20th century.
Stages of Economic Growth" was published in 1960, at
the height of the
Cold War
,
Rostow was fiercely anti-communist and right-wing;
he modeled his theory after western capitalist
countries, which had industrialized and urbanized.
Rostow promoted his development model as part of
U.S. foreign policy.
Rostow's model illustrates a desire not only to assist
lower-income countries in the development process
but also to assert the United States' influence over that
of
communist Russia
.
Rostow assumes that all countries
have an equal chance to develop,
without regard to population size,
natural resources, or location.
Singapore, for instance, has one of
the world's busiest trading ports, but
this would not be possible without
its advantageous geography as an
island nation between Indonesia and
Malaysia.
In spite of the many critiques
of Rostow's model, it is still
one of the most widely cited
development theories and is a
primary example of the
intersection of geography,
economics, and politics.
Walt Whitman Rostow, an economist, proposed the Stages of Economic Growth theory in 1960, outlining the five stages through which countries pass to achieve economic development. His model reflects Western capitalist ideologies and was influenced by Cold War politics. Rostow's theory aimed to guide developing nations towards growth while serving as a tool for U.S. foreign policy.
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Presentation Transcript
SEM 4: GEOA (2020) Rostow Model of economic growth Chandan Surabhi Das Barasat Govt. College
Walt Whitman Rostow was an economist who developed a theory of how a country's economy develops and grows, and in 1960 he took a crack at addressing these issues in his book, The Stages of Economic Growth.
Five stages of economic development Walt Rostow took a historical approach in suggesting that developed countries have tended to pass through 5 stages to reach their current degree of economic development. Rostow penned "Stages of Economic Growth" in 1960, which presented five steps through which all countries must pass to become developed: 1) traditional society, 2) preconditions to take-off, 3) take-off, 4) drive to maturity and 5) age of high mass consumption.
Rostow's Model in Context: Merits Rostow's Stages of Growth model is one of the most influential development theories of the 20th century. Stages of Economic Growth" was published in 1960, at the height of the Cold War, Rostow was fiercely anti-communist and right-wing; he modeled his theory after western capitalist countries, which had industrialized and urbanized. Rostow promoted his development model as part of U.S. foreign policy. Rostow's model illustrates a desire not only to assist lower-income countries in the development process but also to assert the United States' influence over that of communist Russia.
Rostow assumes that all countries have an equal chance to develop, without regard to population size, natural resources, or location. Singapore, for instance, has one of the world's busiest trading ports, but this would not be possible without its advantageous geography as an island nation between Indonesia and Malaysia.
In spite of the many critiques of Rostow's model, it is still one of the most widely cited development theories and is a primary example of the intersection of geography, economics, and politics.
