Walt whitman rostow sayings on economic theory
Walt Whitman Rostow was an American economist known for his work on economic development. While he is not known for specific sayings on economic theory, he is best known for his theory of economic growth called the "Stages of Economic Growth." This theory outlines a linear progression of economic development that countries go through as they modernize and industrialize.
Rostow believed that countries progress through five stages of economic development: traditional society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption. He argued that countries must go through these stages in a specific order to achieve sustained economic growth.
One of Rostow's famous quotes related to economic development is: "Development is not an affair of experts and specialists. It is an affair of the people." This quote emphasizes the importance of involving the population in the development process and ensuring that economic growth benefits all members of society.
Above is Walt whitman rostow sayings on economic theory.
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