Rostow’s Stages of Growth is a model that describes the economic development of countries in five stages, from traditional society to high mass consumption. It suggests that countries progress through these stages in a linear manner.
Related terms
Modernization Theory: A theory that explains how societies become more developed by adopting modern practices and technologies.
Economic Development: The process by which an economy improves its standard of living through industrialization, increased productivity, and technological advancements.
Investment: Allocating money or resources with the expectation of generating income or profit in the future.