Rostow’s ‘stages of economic growth’ model shows five crutial stages in the development of a country. The first stage in the model is traditional society, this is where the countries’ population use primitive technology and their trade is still based on bartering.
The second stage, names preconditions for take-off, means the country has improved technology and an increase in trade and investment.
The Take-off stage is third and Rostow believed it to be the most important of all the stages because the economic growth was rapid and sophiticated.
The drive to maturity stage is a period of self-sustaining growth, with increasing investment and diversification.
The fifth and final stage of the rostow model is the high mass consumption.
Primarily Written by: Edd TurtleLast Modified: December 19, 2011