Rostow's stages of growth

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The Rostovian take-off model (also called "Rostow's Stages of Growth") is one of the major historical models of economic growth based on Auguste Comte's earlier "law of three stages." It was postulated by W. W. Rostow in his book The Stages of Economic Growth: A Non-Communist Manifesto (1960). The model postulates that economic modernization occurs in five basic stages, of varying length. Traditional society Preconditions for take-off Take-off Drive to maturity Age of High mass consumption Rostow asserts that countries go through each of these stages fairly linearly, and set out a number of conditions that were likely to occur in investment, consumption and social trends at each stage. Not all of the conditions were certain to occur at each stage, however, and the stages and transition periods may occur at varying lengths from country to country, and even from region to region. Rostow's model is one of the more structuralist models of economic growth, particularly in comparison with the...

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