International Journal of Social Science & Economic Research
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Title:
SUMMARIZING THE MISCELLANEOUS CRITICISM ON ROSTOW'S MODEL OF ECONOMIC GROWTH: AN OVERVIEW

Authors:
Zahid Khan and Slavador Marinaro


Volume - 2 Issue - 2, Pages - 2301-2312

Abstract:
This paper is an attempt to summarize the miscellaneous criticism of numerous scholars contingent upon Rostow's comprehensive model of Stages of Economic Growth: A NonCommunist Manifesto-one of the historical patterns of the economic development. This study argues that how have the different scholars criticized the Rostow model of economic growth or unwilling any importance to the theory. Others, while identified the author's productive contributions in some aspects, recognized the numerous flaws in the terms of theory and experimental substantiation. His model of economic growth opposed to the Karl Marx phases of feudalism, socialism, capitalism, bourgeoisie, and communism. Therefore, economists and historians are uncertain and disapprove the substantiation of the division of economic-history into five stages of development as obtained by Rostow. This model of development acclaims that all societies evolved from a state of traditional society to the modern one and wangled into the economic maturity. This model has already outset the lively debate and endured the podium of criticism among various research scholars, economists and historians. The postulates of model shifted from economic growth to the politics and practiced by nine major countries-this general hypothesis is highly criticized by numerous economists for being too hazy, theoretical and feeble from substantiation point of view. Hence, no comprehensive work has yet been conducted to summarize the critique of various scholars.

Cite this Article:

[Khan, Zahid, and Slavador Marinaro. "SUMMARIZING THE MISCELLANEOUS CRITICISM ON ROSTOW'S MODEL OF ECONOMIC GROWTH: AN OVERVIEW." International Journal of Social Science & Economic Research 2.2 (2017): 2301-312.]

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