Rostow model of growth

Rostow model of growth
  after W.W. Rostow who identified five stages of development in a national economy:
  traditional society -mainly agricultural with limited, low-tech industry
  pre-conditions for take-off -capital investment in one or two industries along with investment in agriculture to free up labour.
  takeoff -rapid growth in manufacturing, decline in agricultural employment. Development of infrastructure.
  drive to maturity -self-sustained economic growth and prolonged urbanization.
  age of mass-consumption -expansion of service industry and decline in manufacturing.

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