POL101Y1 Chapter Notes - Chapter 5: Walt Whitman Rostow, Profit Maximization, Radical Change
6 Feb 2018
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Reading journal 5: the stages of economic growth by w. w. rostow. For these arguments, rostow uses examples as evidence to prove how the stages can apply in real life. He mainly exemplifies the first stages with the existence of the british take-off from 1783, which. The interesting part about the article was its conclusion distinguishing the five stages to marxism, saying that in the stages of growth, human behavior is not seen as an act of profit maximization, as marx argued. Generalizing the sweep of modern economic history. 5 stages of growth: traditional society, the preconditions for take-off, the take-off, the drive to maturity, and the age of high mass consumption. Beyond consumption: while western europe were entering the era of mass consumption an important new element entered the world economic system: tendency of birth rates to rise in rich societies.
