The Stages Of Economic Growth

2017 Reprint of 1960 First Edition. Full facsimile of the original edition, not reproduced with Optical Recognition software. In the text Professor Rostow gives an account of economic growth based on a dynamic theory of production and interpreted in terms of actual societies. Five basic stages of economic growth are distinguished with detailed discussions of each stage including illustrative examples. Rostow also applies the concept of stages of growth to an examination of the problems of military aggression and the nuclear arms race. The final chapter includes a comparison of his non-communist manifesto with Marxist theory. Remains a classic text on the subject.

Five basic stages of economic growth are distinguished in an account of economic growth based on a dynamic theory of production and interpreted in terms of actual societies.

In The Stages of Economic Growth, for which he is known around the world, W. W. Rostow distinguished five basic stages of growth experienced by societies as they change from a pre-industrial state to full economic maturity. In this book the analysis is continued but the focus is shifted, from economic growth to politics. Professor Rostow see politics as an eternal triangle of competing imperatives - of security, welfare, and constitutional order. Using this concept, he examines the political meaning and content of each of the stages as experienced by eight countries; Great Britain, France, China, Japan, Russia, Turkey, Mexico and the United States. He goes on to consider, in the heart of the book, a uniquely political stage: the search for quality which is possible in an age of high mass consumption. Special attention is given the United States. Professor Rostow also examines the character of politics in the developing nations of today, and makes explicit what he sees to be the lessons of history and the contemporary world for these nations. He concludes by using his analysis to speculate on possibilities for peace in the global community.

This study, first published in 1976, explores the theory and impact of economic growth.

"This comprehensive history of the U.S. Agency for International Development, the U.S. government’s official bilateral foreign aid agency, deserves to be read by all students of U.S. foreign policy." Foreign Affairs US Foreign aid is one of the most misunderstand functions of our federal government. Consuming less than 1% of the federal government budget, it has nonetheless played an outsized role in political debate. At the center of this controversy and misunderstanding has been the U.S. Agency for International Development, or AID, the government agency created during the Kennedy administration to administer America’s foreign assistance programs, an often-conflicted behemoth with a presence spanning the globe. In this book, journalist and foreign policy expert John Norris provides a compelling and rich story of AID, warts and all. There have been moments of enormous triumph: the eradication of smallpox, the Green Revolution, efforts to bring family planning to millions of women for the first time. There have also been florid, headline-grabbing failures in places like Vietnam and Iraq, missteps born out of ignorance and ethnocentrism, and money that flowed into the coffers of despots like President Mobutu in Zaire. In totality, the work of AID has touched millions and millions of lives in ways that have been truly profound, both good and bad. On the Eve of AID’s 60th anniversary, Norris shares history on an almost epic scale that remains largely untold.

This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.