cool geography rostows model (jas, wei, alex)
DESCRIPTION
A cool presentation of Rostow's model of development.TRANSCRIPT
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Rostow’s Stages of DevelopmentBy: Jasmine, Wei- hao, Alex
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What is it? A model of economic growth suggesting that
all countries pass through a series of stages of development as their economies grow.
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A series of 5 stages
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STAGE 1: Traditional Society Dominated by subsistence agriculture
agricultural based economy
Intensive labor and low levels of trading
Having a population that has no scientific perspective on the world and technology
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STAGE 2: Preconditions to take- off Society begins to
develop manufacturing
country advances to a more complex economy, beginning of economy development
levels of technology develop
development of a transport system- TRADE.
Rostow believed: could only be reached by a great achievement of a surplus of wealth
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STAGE 3: TAKE- OFF Short period of extensive growth.
Industrialization begins. Manufacturing more important part of economy
Introductions to technical innovations– economic rise
Agriculture progressed to commercial rather than subsistence
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STAGE 4: The drive to Maturity Takes place over a long period of time – standards of
living rise
Use of technology increases
National economy grows and diversifies
Increased percentage of Nation’s wealth- invested into developing its economy
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STAGE 5: High Mass Consumption
Individual incomes are greater than necessary for buying essentials
growing demand for additional consumer goods and services
Improved health care systems and education
Economy flourishes
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DISADVANTAGES- Criticism
Has a strong bias towards a western model of modernization
Assumes that all countries follow the same route of development
Doesn’t look at variations within a country
Assumes that each country is economically and politically free
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ADVANTAGES
Highly respected and referred to model
Primary example of the “intersection of Geography, economics and politics”
Most widely cited development theories
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BIBLIOGRAPHY
http://worldissues2011.wikispaces.com/Stages+of+Economic+Development
http://wiki.answers.com/Q/Describe_and_critically_analyze_Rostows_theory_of_growth
http://www.thestudentroom.co.uk/wiki/Revision:Models_of_Development