Rostow (1960) - Modernisation Theory

Sarah Mather
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Mind Map on Rostow (1960) - Modernisation Theory, created by Sarah Mather on 06/14/2013.

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Sarah Mather
Created by Sarah Mather over 6 years ago
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Rostow (1960) - Modernisation Theory
1 Key Idea
1.1 Under developed countries can strengthen their economies by introducing modern technology, agriculture and industrial production.
1.2 There are 5 stages of economic development.
1.3 Rostow was an American economic Historian
2 Stage 1 -Traditional Society
2.1 Subsistence, barter, agriculture.
3 Stage 2 - Transitional Stage
3.1 Specialisation, surpluses, infrastructure
4 Stage 3 - Take Off
4.1 Industrialisation, growing investement, regional growth, political change
5 Stage 4 - Drive to Maturity
5.1 Diversification, innovation, less reliance on imports, investements.
6 Stage 5 - HIgh mass consumption
6.1 Consumer oriented, durable goods flourish and service sector becomes dominant.
7 Rostow argues that development requires substantial investement in capital.
7.1 If aid is gived, FDI occurs at stage 3, if stage 2 has been reached then investement may lead to rapid growth.
8 Neo-Liberalism
8.1 Idea that there ought to be little government intervention and private investement should be encouraged via the use of FDI. This ties in with the Washington COnsensus view that the state is the problem, NOT solution.
9 Criticisms
9.1 Eurocentric - e.g. based on the experiences of the UK snf USA, it is a simplified version of what really happens in a country, it is very descriptive so does not explain how countries pass from one stage to another and assumes the adoption of free market capitalism and neoliberal ideas.
9.2 It over simplifies development and assumes all societies are on the same develpment path when really they arenot. They treat nations as isolated and ignore histoirical processes such as colonialism. Also all barriers are located in the third worldd and they ignore external barriers such as global trade.
9.3 This development model is flawed for being unsustainable
10 EXTRA
10.1 Explaining Underdevelopment
10.1.1 Talcott Parsons argues that cultural barriers are a;sp a barrier to developmetn and that majority-world cultures are based on collectivism and ascribed status. Development links to the process of social change.
10.1.2 Lack of technology, economic barriers - trap in a cycle of poverty consequently there is a lack of development.
10.2 Promoting Development
10.2.1 Policie such as injections of capital to the majority of the world, e.g. loans, aid, or TNC's. We should focus on technological advacements and creating the industrial infrastructure to achieve economic take-off to maintain the drive to maturity. Investement should also be used to instigate cultural change by creating institutions which permeate modern norms and values and establish education systems such as the mass media.

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