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Rostows stages of developement

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  • 1. Rostows Stages of Development By: Ethan Que
  • 2. What is it?• Also known as Rostows Stages of Growth• Economic Growth
  • 3. 5 Stages of Economic Growth1. Traditional society2. Preconditions for take-off3. Take-off4. Drive to Maturity5. Age of High Mass Consumption
  • 4. Traditional Society• Base by Pre Newtonian Society• Little Economic Change to Society• Usually goods are exchanged for others• Agriculture because it used limited quantities of the capital.
  • 5. Preconditions for Take-off• Also known as the Transitional Stage• Bring changes in social attitudes, expectations, structure and values of society.• Economic Progress is possible
  • 6. The Take-Off• Mainly technological• Switch from Agricultural Sector to the Manufacturing Sector.• 3 necessary conditions needed for takeoff• Rate of productive investment about 10%.• The development of substantial manufacturing sectors.
  • 7. Drive to Maturity• Economy is diverse into new areas• Technology Innovation provides investment opportunities.
  • 8. Age of High Mass Consumption• Service sector becomes increase singly dominant• Society’s being able to choose military issues or on developing great luxury for the upper class.
  • 9. Strengths• Shows the economic development in countries• Shows what stages the countries are in.
  • 10. Weaknesses• Many economists think the model works only for Western Countries.• Only shows the economic growth of a country.• Does not issue other developments in a wider context only economic.
  • 11. Thank You