Contribution To Economics
Rostow developed the Rostovian take-off model of economic growth, one of the major historical models of economic growth. The model argues that economic modernization occurs in five basic stages of varying length—traditional society, preconditions for take-off, take-off, drive to maturity, and high mass consumption. This became one of the important concepts in the theory of modernization in social evolutionism. He received the Order of the British Empire (1945), the Legion of Merit (1945), and the Presidential Medal of Freedom (1969).
Read more about this topic: Walt Whitman Rostow
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