Walt Whitman Rostow
The economist, not the writer
By Maeve Russell
Who was Walter Rostow? Walt Whitman Rostow was
born in 1916 to two Jewishemigrants from Russia
Rostow had advised for theEisenhower Administration,worked under two otherpresidents (Kennedy andJohnson), and taught fornumerous prestigiouscolleges.
His most famous book oneconomy was The Stages ofEconomic Growth
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The Stages of EconomicGrowth
In his book, Rostow theorized that each and every country goesthrough 5 stages of economic growth
First stage: A traditional society, with subsistence agriculture,and a domestic industry
Second stage (preconditions for take-off):localized resourceundergoes development, and an export economy thrives
Third stage (take-off): Exploitation of a major resource leads toa rapid political change
Fourth stage (drive to maturity): The society creates a morediverse industrial base and increases trade
Fifth stage (age of mass consumption): an advanceddevelopment of an industrial economy occurs
Controversial?
Rostow’s five, uneven stagescontrasted to the othermodels of his day.
Economists felt as though hismodel was too vague, variedtoo much at each country,and included far too manyfactors (instead of onlytaking into account output,production and technology).
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Rostow’s Reasons for HisTheory
Rostow had observed how production in “leading sectors” would spillover into less developed ones, and how investments in productionprocesses could alter the economy.
He decided to create a model to that emphasized, “the uniqueness ofeach nation’s experience.”
However, many modern day economists still consider his model to bevery western, and say that nations may develop in other ways
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Why is this important?
Rostow’s model has becomea fundamental subject inmany introductory classes oneconomics and humangeography.
His model began heateddiscussions and experimentsamong economists in inmany countries
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Why is this important?(cont’d)
Scholars from different backgrounds began toget involved in these discussions, and morediverse and universal theories were created.
People began to accept that developmentwas complex, involved numerous variables,and was an uneven process.
THE END
Works Cited “Rostovian take-off model:Facts, Discussion Forum, and Encyclopedia
Article.” AbsoluteAstronomy.com. Web. 22 Sept. 2009.http://www.absoluteastronomy.com/topics/Rostovian_take-off_model.
“Walter Rostow.” TimesOnline. New York Times, 19 Feb. 2003. Web. 22Sept. 2009.http://www.timesonline.co.uk/tol/comment/obirtuaries/article882341.ece.
Milne, David. “Rostow, Walt Whitman.” The Scribner Encyclopedia ofAmerican Lives. Vol. 7. Farmington Hills: Thomson Gale, 2007. 478-81.Print.
Norton, William. Human Geography. Fifth ed. Ontario: Oxford UP, 2004.Print.
“Walt Whitman Rostow.” The University of Texas at Austin - Web Central.Web. 27 Sept. 2009. http://www.utexas.edu/faculty/council/2003-2004/memorials/rostow/rostow.html.