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Rostow Model of economic development

Model created by Walt Whitman Rostow in 1960
Based upon 15 main EU countries
All countries have opportunity to break cycle of poverty and progress through 5 stages
of development

Traditional Society (UK 1750)
Subsistence
Agricultural
Low investment
Labour intensive
Produce eaten by growers
Trade…

Page 2

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Model underestimates development of one country at the expense of another.
Developed with `Western countries' as it's focal point, not the same for LEDCs
Stages merge together, difficult to define which stage a country is in
Does not take into account technological advances, which accelerate
development

Strengths of the model…

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