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rostow's modernization model of development
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Walt Whitman Rostow
- Born on Oct. 2, 1916 in New York City.
- Named after the American poet Walt Whitman, whom both his parents admired.
- Rostow was admitted to Yale at the age of fifteen, and he graduated with a B.A. before his twentieth birthday.
- Taught economics in many different universities including Columbia, Oxford Cambridge and Massachusetts Institute of Technology
- During WW2, was sent to London where he had the principal task of identifying enemy targets for Allied bombing missions.
- published numerous books and articles on domestic and international economics, including "The Stages of Economic Growth: A Non-Communist Manifesto"
premise/ function
Rostow's Model of Development is a five stage model created in the 1950's that depicts the stages of development in which every country would fall into.
illustration
Strengths/Weaknesses
The model offers hope to much of the world that economic maturity is coming and the age of high mass consumption is high.Rostow asserts that countries go through each of these stages fairly linearly, and set out a number of conditions that were likely to occur in investment, consumption and social trends at each state.
Many development economists argue that Rostows's model was developed with Western cultures in mind and not applicable to LDCs. In addition its generalized nature makes it somewhat limited. It does not set down the detailed nature of the pre-conditions for growth.It is essentially a growth model and does not address the issue of development in the wider context.
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Rostow's Modernization Model of Development
By: Maria Lopez
By: Maria Lopez
Effectiveness
Several countries adopted this approach in the 1960s; But most follow the self-sufficiency approach.