Rostow's Model on Stages of Growth

Rostow's Stages of Growth model.

• The Key to Rostow's theory is that developing countries could "learn" development from the experiences of developed countries.

His model had 5 stages

Stage 1: Traditional society.

• Most Economic activity takes place on a subsistence basis, and output is not traded.
• Limited quantities of capital are available ; labour is paramount.
• Agriculture is the main source of imput.

Stage 2: The pre-conditions for take-off.

• Extraction industries begin to develop.
• Agriculture becomes more mechanised.
• Infrastructure development occurs.
• Savings and…