3 years ago

How do models of economic development explain different levels of development?

1 answer:

5 0

Answer:

In 1960, Rostow published his classic Stages of Economic Growth, which outlined five phases that all countries would go through to become developed: 1) conservative culture, 2) take-off preconditions, 3) take-off, 4) maturity push, and 5) high-mass-consumption age. There is no precise term for the stages of economic development, unlike the stages of economic growth (which were suggested in 1960 by economist Walt Rostow as five specific stages: conventional society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption).

Explanation:

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