list five stages of Rostow's economic development model
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There are five stages in Rostow's Stages of Development: traditional society, preconditions to takeoff, takeoff, drive to maturity, and age of high mas consumption. In the 1960s, American economist called W.W. Rostow developed this theory.
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Using these ideas Rostow penned his classic Stages of Economic Growth in 1960, which presented five steps
1) traditional society
2) preconditions to take-off
3) take-off
4) drive to maturity
5) age of high mass consumption.
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