Problem:
Review Rostow's five stages of economic growth and categorize the following countries: Spain, U.S. A., Uganda, Brail, and China. W. W. Rostow based his theory on the three economic sectors: primary, secondary, and tertiary. The globalization of nations reflects where a nation is in the development pattern. His theory includes the following levels:
Traditional society: primary a subsistence economy in which agriculture is the most important industry; little trade beyond borders because production is consumed by producers.
Transitional stage: surplus of production and emerging transportation system; opportunities for trade develop.
Take off: initiation of industrialization with increased in manufacturing; focus on a few industries; social and political institutions developed to support industrialization
Drive to maturity: growth increasing; innovation developing
High mass consumption
What conditions must exist for the above countries move from one stage to another? Do countries regress through the levels? What would cause a country to regress?
550 words.