IDSA01H3 Chapter Notes - Chapter 7: Strategy Of Unbalanced Growth, Security Hacker, Walt Whitman Rostow
10 Dec 2016
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The five stages of growth a summary. Plague: high proportion of resources to agriculture hierarchal social structure with narrow scope for vertical mobility. Long run fatalism: possibilities for grandchildren would be the same as grandparents. Education = entrepreneurs = risks = profits = banks for mobilizing capital. = investment in eg, transport: still limited pace, traditional low productivity methods, old social structure, regionally based political institutions, difference between tradition and pcft political: building of effective centralized national state vs. regional interests, necessary for takeoff. Resistances to steady growth are overcome due to technology, compound interest becomes institutional structure: surge of technological development. Long interval of sustained progress after take off: regularly growing economy, large portion of income steadily invested, makes way into global economy. Imports produced at home, import requirements: maturity stage in which economy demonstrates capacity to move beyond the original industries which powered its takeoff, to a more wide range of resources.
