Charting Economic Evolution: Rostow’s Journey of Development
Words: 400 1653Walt Rostow's pioneering vision, encapsulated in the Stages of Economic Growth framework, painted a roadmap envisioning economies' evolution from traditional societies to formidable industrial giants. This blueprint, akin to a vivid sketch, mapped out a linear trajectory threading through distinctive developmental phases. The journey commences within the realm of "Traditional Society," where economies revolve around subsistence agriculture. Basic technology, limited education, and underdeveloped infrastructure tether societies to traditional practices, constraining advancements. Progressing from this foundational phase, economies step into the […]