Question

Critically examine Arguments advanced by Rostow and discuss how it relates to Jamaican Economy

Answer 1

Rostow argued that the economy of all nations may be placed within the one of five different economic growth stages. These stages consists of the traditional society, takeoff, takeoff pre-conditionally, maturity driven, and age of huge mass consumption. It relates to the Jamaican Economy because according to Rostow the countries that were 'born free’; the transition process to the modern growth in economy was mainly technical and economical. The creation of the take-off pre-conditions was hugely a concern of the social overhead capital such as roads and railways, and of finding a setting in the economy; and this shift from agriculture to manufacturing trading turns to be profitable for the Jamaican economy