The past decades are characterized by unprecedented growth and prosperity. Economic growth is has enriched several states and groups of people, and as a result, consumption levels have increased skyrocket. However, prosperity is not evenly distributed throughout the world. Global economic growth may not be felt in the lives of the poorest, and it is seen will benefit them less. country's economic growth can be defined as a long-term increase in its ability to offer its population an ever-expanding range of economic goods. This growth capacity is based on technical progress and the institutional and ideological adjustments that it requires. More generally, economic growth is the sustainable growth of the total net product, in real terms, of an economy. It is therefore a quantitative phenomenon that can be measured, and a phenomenon of long period. “A human development approach to development requires the integration of policies taking into consideration both economic and noneconomic factors”( Beneria, Berik and Floro17).
Colonization, imperialism, and endogenous development are addressed by Rostow. As for the role of culture: its linear and global theory is deliberately simplified, so it does not dwell on the cultural factors that vary in each region. According to the theory of stages of economic growth, a society should go through different phases, always the same. In reality, things are much more complex. For Rostow, development would be an inevitable phenomenon. Approximately few countries have just underway the course earlier others, so all would be just a matter of time. But, under firm conditions, development could be enhanced.
Rostow in his book "The Steps to Economic Growth" has tried to identify the uniform characteristics of the modernization of societies. According to him, companies are going through five stages in their progress: traditional society, pre-conditions for take-off, take-off, progress towards maturity, and the era of mass consumption(Dorfman573). Rostow acknowledges, their history is marked by transformations and technical innovations. But the increase in production made possible by the latter remains marginal.
The developmental gap , according to modernization theory is based on the transaction from traditional society in to modern society means of economic development . According to modernization theorist , the self-generating and sustained economic growth can develop likely in South, third world countries must experience the same deal from traditional to modernity formerly undertaken by North.(Lairson and Skidmore 251)
At another place North -South economic interdependence is to be respected, according to modernization thinkers , not only for common gain that generally stream from market dealings but also for the advantageous impact that such bonds have in serving to wear down and weaken the traditional social standards and structures that restrain development. Due to various pressures including internal and external helped to shrink the society and economy but the growth of modern sector takings a pace.( Lairson and Skidmore 252)
Dependency theorists discard modernization theory's positive forecast that Third World nations that copy the cultural attitudes, organizations, and strategies of the North can trail the same path on the way to development formerly tramped by current rich nations.
According to some researchers, dependence was formed with the industrial revolution and the expansion of European power around the world due to military and economic superiority. It is believed that prior to this, exploitation was internal; there were a number of major economic centers that prevailed over the rest of the country (like South England and the Northern States). The development of world trade in the 19th century made capitalism a global system. The gap between rich and poor has widened. The super profits extracted from the colonies were aimed at social stabilization within the metropolis, the reassurance of the "dangerous classes", which prevented popular revolutions in the countries of the center.
Benería, Lourdes, Günseli Berik, and Maria Floro. Gender, development and globalization:
Economics as if all people mattered. Routledge, 2015.
Dorfman, Robert. "Economic development from the beginning to Rostow." (1991): 573-591.
Skidmore, David, and Thomas D. Lairson. International political economy: the struggle for
power and wealth in a globalizing world. Routledge, 2016.
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