Your SlideShare is downloading. ×
0
Rostow modernization model
Rostow modernization model
Rostow modernization model
Rostow modernization model
Rostow modernization model
Rostow modernization model
Rostow modernization model
Rostow modernization model
Rostow modernization model
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Rostow modernization model

10,930

Published on

Economic Model

Economic Model

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
10,930
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
140
Comments
0
Likes
1
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. ROSTOW MODERNIZATION MODEL<br />Presented to,<br />Prof. Ravi B. Srivastava<br />Presented by,<br />Aastha Pallav<br />Aditya Jain<br />AlpeshBalar<br />Bhaumik Joshi<br />
  • 2. FLOW OF PRESENTATION<br />INTRODUCTION<br />STAGES OF MODEL<br />CRITICISM<br />
  • 3. INTRODUCTION<br /><ul><li>Rostow&apos;smodel is one of the more structuralist models of economic growth, </li></ul> particularly in comparison with the backwardness model developed <br /> by Alexander Gerschenkron<br /><ul><li>Rostowbelieves that countries want to modernize as he describes </li></ul> modernization, and that society will assent to the materialistic norms of <br /> economic growth.<br />
  • 4. STAGES OF MODEL<br />STAGE I- TRADITIONAL SOCIETY<br />Subsistence, barter, agriculture<br />STAGE II -TRANSITIONAL SOCIETY<br />Specialization, surpluses, infrastructure<br />STAGE III- TAKE OFF<br />Industrialization, growing investment, regional growth, political change<br />STAGE IV- DRIVE TO MATURITY<br />Diversification, innovation, less reliance on imports, investment<br />STAGE V- HIGH MASS CONSUMPTION<br />Consumer oriented, durable goods flourish, service sector becomes dominant<br />
  • 5. STAGE I- TRADITIONAL SOCIETY<br /><ul><li> Minimal productivity
  • 6. Few exchange transaction
  • 7. Economic change/technological improvements are not sufficient to sustain </li></ul> any growth in per capita output, which is low<br />STAGE II- TRANSITIONAL SOCIETY<br /><ul><li> Society engages in secular education
  • 8. Establishes banks and currency
  • 9. Emerging entrepreneurial class
  • 10. Concept of manufacturing emerges, with only a few factories developing </li></ul> at first.<br />
  • 11. STAGE III- TAKE-OFF<br /><ul><li> Growth becomes the norm and improvements in production lead to the </li></ul> emergence of leading sectors. <br /><ul><li>Income rises across the board, and a new class of established entrepreneurs </li></ul> emerges.<br />STAGE IV- THE DRIVE TO MATURITY<br /><ul><li> Modern technology is fully adopted in all economic activity
  • 12. New leading sectors emerge
  • 13. Economy demonstrates technological and entrepreneurial skills to </li></ul> produce anything it chooses to,<br />
  • 14. STAGE V- HIGH MASS CONSUMPTION<br /><ul><li> Leading sectors shift toward durable goods
  • 15. Surge occurs in per capita income and increased allocation to social welfare </li></ul> programs.<br />
  • 16. CRITICISM OF MODEL<br /><ul><li>Rostowis historical in the sense that the end result is known at the outset </li></ul> and is derived from the historical geography of a developed, bureaucratic <br /> society.<br /><ul><li>Rostowis mechanical in the sense that the underlying motor of change is </li></ul> not disclosed and therefore the stages become little more than a <br /> classificatory system based on data from developed countries.<br /><ul><li>His model is based on American and European history and defines the </li></ul> American norm of high mass consumption as integral to the economic <br /> development process of all industrialized societies.<br /><ul><li>His model assumes the inevitable adoption of Neoliberal trade policies </li></ul> which allow the manufacturing base of a given advanced polity to be <br /> relocated to lower-wage regions.<br />

×