Rostow's Stages of Economic Growth
This theory functions on the belief and basis of Hirschman(1958), that development in the core will trickle down to the periphery, Friedmann's core-periphery model and that the west is modern and good,1. Traditional- Agricultural and hunter-gatherer societies dominated by family, clan or tribal groupings; pre-nation-state and Newtonian science and technology
2. Preconditions for take-off- Saving and investment rates above population growth; increasing importance of nation-state and national institutions elite status not based on family/clan allegiance changes triggered by external intrusion
3. Take-off- Triggered by internal or external stimulus political revolution, colonialism, technical innovation. Higher rates of investments and savings; substantial manufacturing sector; banks and other institutions in place
4. Drive to maturity- expansions of use and range of technology; growth of new economic sectors; investment ad savings 10-20 percent of national income
5. Age of high mass consumption- widespread consumption of durable consumer goods and services; increased spending on welfare services