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
Famous quotes containing the words contribution to, contribution and/or economics:
“Advertising is a racket, like the movies and the brokerage business. You cannot be honest without admitting that its constructive contribution to humanity is exactly minus zero.”
—F. Scott Fitzgerald (1896–1940)
“Sometimes I think that idlers seem to be a special class for whom nothing can be planned, plead as one will with them—their only contribution to the human family is to warm a seat at the common table.”
—F. Scott Fitzgerald (1896–1940)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)