Walt Rostow proposed a model of economic growth consisting of 5 stages: 1) Traditional society, 2) Preconditions for take-off, 3) Take-off, 4) Drive to maturity, 5) Age of high mass consumption. The preconditions stage involves creating conditions for sustained growth like infrastructure, education, and trade. The take-off stage involves rapid industrialization through high investment rates. During the drive to maturity stage, new technologies are widely adopted and economies can withstand shocks. Finally, in the age of high mass consumption, societies focus on consumption and welfare.