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Department of Development Studies University of Dhaka

Submitted To: Rashed Al Mahmud Titumir, Assistant Professor, Department of Development Studies, University of Dhaka

Assignment on: The Stages of Economic Growth by W.W.Rostow


Course Name: Development Theories & Approaches Course No. DS-203

Submitted by: (Class Roll No.ZR-25) Dept.of Development Studies,University of Dhaka

10/8/2010

TABLE OF CONTENTS

TOPICS 1. 2. 3. 4. 5. 6.

PAGES

INTRODUCTION...3 BACKGROUND.........3 OBJECTIVES..4 STAGE 1: THE TRADITIONAL SOCIETY..4 STAGE 2: THE PRE-CONDITIONS FOR TAKE-OFF.....5 STAGE 3: THE TAKE-OFF..10 a) Table: Appendix-a 7. STAGE 4: THE DRIVE TO MATURITY..10 a) Table: Appendix-b 8. STAGE 5: THE AGE OF HIGH MASS CONSUMPTION...10 a) Table: Appendix-c 9. LIMITATIONS OF THE THEORY...............................11 10. CRITICISMS......12 11. IMPORTANCE.......15 12. THE STAGE OF ECONOMIC GROWTH AND BANGLADESH...15 a) Table: Appendix-d 13. MY UNDERSTANDING....18 14. CONCLUSION............18 15. REFERENCES...,.19

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1. Introduction The stages of Economic Growth: A Non-Communist Manifesto (1960) was written by Walt Whitman Rostow to share the developing process by observing the experience of the developed country`s pattern of development. He describes the development processes by giving five stages including the traditional society, the preconditions for take-off, the take-off, the drive to maturity and the age of high mass consumption. In this assignment, I have tried to clarify the significance of this model in the perspective of Bangladesh relevance and showing the limitations as the wider sense. This assignment has to create the effectiveness of the development process in the development of the underdevelopment. The critical discussion of this assignment might help me to summarize the whole idea what is discussed by W.W.Rostow. 2. Background1 The study of economic history attempts to reveal the causes of the growing international economic disparity and to identify the strategic factors of economic change. The historical inductive method, analyzed economic history in terms of stages of growth. The underlying idea of the concept of stages, found in List, Marx, the German historicists, and revived in a modern form by Rostow, is that every society passes several phases of economic growth, from infancy or primitive stage to maturity or highly industrialized society. However, the essence of stages in different concepts was not uniform, neither was the indispensability of each and every one of the stages uncontested. Weber, in particular, opposed the monistic approach, and suggested the concept of 'ideal types' from which realities are necessary deviations. Marx's contribution to modern growth theory lies in his dynamiting of the classical theory through his expanded reproduction function, envisaging both capital and labor, and their qualities, as the strategic factor of growth, rendering possible both a highly industrialized and an equalitarian society, while List's model can be considered the origin of A. G. B. Fisher's and C. Clark's primary, secondary and tertiary sectors. Even in Schumpeter, stages and periodization of growth can be easily traced, although they are chiefly explained in terms of technology, entrepreneurship and business cycles. Among the modern growth theorists, mainly Rostow revived the concept of stages and the notion of a 'threshold' rate of investment as the strategic factor of expanded reproduction and development, while W. G. Hoffmann with his shift from consumer- to capital-goods industries again calls to life Marxian transition as well as the three-sector concept. Like his predecessors, List with industrialization and Marx with the capitalist stage, also Rostow is mainly preoccupied with one
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Z. Y. Hershlag,(1969), Tel-Aviv University, Blackwell Publishing Ltd

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particular, 'take-off' stage. Despite its flaws, Rostow's concept has become a useful tool of historical and positive analysis as well as a framework for normative models fervently looking for strategic factors of change, and some lessons of economic history. It also brought to the fore the rather paradoxical recent development in the economic camp, with 'new economic historians' employing purely quantitative methods of research, and growth theorists looking for help (and desirable quantification) to qualitative variables to explain past and present growth trends and to shape adequate growth models. (Z. Y. Hershlag, 1969) 3. Objectives The first and foremost objective of this study is to find out the necessity and usefulness of this model to promote development in the underdevelopment. The second objective is to find out whether this model can applicable or not to solve the underdevelopment problems before and after implementing these issues. The third objective is to find out the credibility of existing development as well as the necessity and the formation of new development policy to ensure efficient way of development of an underdeveloped country. The fourth objective is to find out that, what are the limitations regarding this model. The final objective of this paper is to cover some criticisms and practical relevance in the perspective of Bangladesh and its presence scenario. 4. The Traditional Society: Traditional society is defined as one whose structure is developed within limited productions functions based on pre-Newtonian science and technology and as preNewtonian attitudes towards the physical world2. In this stage, transition triggered by external influences, interests or market and it was considered as limited technology based society. It was also called as the static society3.In the traditional society, the primary activities were mainly subsistence agriculture and their socially captured surpluses were lost because of the religious and military expenditures, for example the dynasties of China, the civilizations of the Middle East, the Mediterranean and medieval Europe were these societies4. Traditional societies are characterized by a ceiling on productivity imposed by the limitations of science. Traditional societies are thus recognizable but a very high proportion of the workforce an agriculture (more than 75 percent), coupled with very little mobility of social change, great divisions of wealth and decentralizede d political power5. The traditional society, having three crucial features as follows6:
2 3

W.W.Rostow(1960) What is sustainable development, p 11 4 A.P.Thirlwall (2003), Chapter.3 pg.115 5 Ibid, 6 Modernization theory, p 111

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A) The value traditionalism itself is dominant that means people are oriented to the past and they lack the cultural ability to adjust to new circumstances. B) The kinship is the decisive reference paint for all social practices, being the primary means through which economic, political and legal relationships are controlled. One`s position in the kinship system and hence in the society is ascribed, not achieved. It is a reflection of the status or standing of the family, clan or tribe in which one is born, one`s position only changes as one moves up the family hierarchy. Status is then not earned or achieved but conferred by virtue of kin relationships. C) Members of the traditional society have an emotional, superstitious and fatalistic approach to the world. They thought what will be will be and things have always been this way. According to Bauer7, Economic achievement and progress depend largely on human aptitudes and attitudes, on social and political institutions and arrangement which derive from these, on historical experience, and to a lesser extent on external contacts, market opportunities and on natural resources. Bauer (1976) 5. The Pre-conditions for Take-off: This stage is called the transitional society where the society occurring change from feudalism. In this stage pre-condition for sustainable of growth is created. Different forces brought an end to feudalism and led to the rise in national state, lead new discoveries and inventions and consequently the rise of the bourgeoisie the elite in the new mercantile cities. These forces were instrumental in bringing about changes in social attitudes, expectations, structure and values. Basically, the preconditions for take-off were emphasized on the young elite and their role. It was also emphasized about the infrastructure and its role. It is said that the stage of preconditions arise not endogenously but from some external intrusion by more advanced societies. The pre-conditions for take-off were encouraged or initiated by four forces as follows: a) b) c) d)
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The new learning or Renaissance The new monarchy The new world & The new religion or the reformation

Bauer (1976, p 41)

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The earlier issues are considered to reasoning and skepticisms in place of faith and authority. According to Rostow, the process of creating pre-conditions for take-off from traditional society follows along these lines8: The idea spreads that economic progress is possible and is a necessary condition for some other purpose, judged to be good; be it national dignity, private profit, the general welfare, or better life for the children. Education for some at least, broadens and changes to suit the needs of modern activity. New types of enterprising men come forward in the private economy, in government, or both, willing to mobilize savings and to take risks in pursuit of profit to modernization. Banks and other institutions for mobilizing capital appear. Investments increase, notably in transport, communications and in raw materials in which other nations may have an economic interest. The scope of commerce, internal and external, widens. And here and there, modern manufacturing enterprise appears, using the new methods. According to Rostow, the pre-conditions for sustained industrialization have usually required radical changes in three non-industrial sectors: First, a buildup of social overhead capital, especially transport to enlarge the extent of the market. Second, a technological revolution in agriculture that agricultural productivity increases to meet the requirements of a rising general and urban population. Third, an expansion of imports, including capital imports, financed by efficient production and marketing of natural resources for exports Rostow said9, The essence of the transition can be described legitimately as a rise in the investment to a level which regularly, substantially and perceptibly outstrips population growth. (Rostow, 1960)

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W.W.Rostow(1960) W.W.Rostow, the stages of economic growth: A Non-Commuinst Manifesto

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Figure 1: The stages of economic growth

6. The Take-off The take-off is considered as the great watershed in the life of modern society. In that time, it is assumed that national investment and development in manufacturing exceed 10 per cent of national income. It is emphasized on the development of modern social, political and economic institutions. It is the time when growth becomes its normal conditions. In the 1890, when the industrial revolution was occurred in the England, basically its started the journey of industrial innovation. It is considered that it will continue for about two decades. Rostow described this stage as an industrial revolution, tied directly to radical change in the methods of production, having their decisive consequence over relatively short period of time. There are several conditions for Take-off: The requirements of take-off are the following three related but necessary conditions:
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 A rise in the rate of productive investment says from 5% to 10% of national income.  The development of one or more substantial manufacturing sectors with a high rate of growth including as follows: a) Primary Growth Sectors: Primary Growth Sectors is the development of the cotton textile fall into this category. b) Supplementary Growth Sectors: Supplementary Growth Sectors is the expansion of iron, coal and steel industry may be regarded as the Supplementary Growth Sectors. c) Derived Growth Sectors: Derived Growth Sectors is the production of food and the construction of houses in relation to population.  The existence or quick emergence of political, social and institutional framework which expands the modern sector and gives growth an outgoing character. According to Rostow, the rapid growth of the leading sectors depends upon the presence of four basic factors: Firstly, there must be an increase in the effective demand of their products generally brought by dishoarding, reducing consumption, importing capital or by sharp increase in real incomes. Secondly, a new production function along with an expansion of capacity must be introduced into these sectors. Thirdly, there must be sufficient initial capital and investment profits for the takeoff in these leading sectors. Fourthly, these leading sectors must introduce expansion of output in other sectors through technical transformations. According to Rostow, The Take-off requires the massive set of pre-conditions, going to the heart of a societys economic organization, its politics and its effective scale of values...It usually witnesses a definitive social, political and cultural victory of those who would modernize the economy over those who would either cling to the traditional society or seek other goals.. By and large, it persuades the society to persist and to concentrate its efforts on extending the tricks of modern technology beyond the sectors modernized during the take-off. (Rostow,1960)10
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W.W.Rostow(1960), the stages of economic growth: A Non-Commuinst Manifesto

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Figure 2: Time Chronology and Development

Rostow has given the following tentative take-off dates for those countries which are considered to be airborne. Country Great Britain France Belgium United States Germany Sweden Japan Table: Appendix-a Time 1783-1802 1830-1860 1833-1860 1843-1860 1850-1873 1868-1890 1878-1900 Country Russia Canada Argentina Turkey India China Time 1890-1914 1896-1914 1935 1937 1950 1950

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7. The Drive to Maturity Rostow defined it as the period when a society has effectively applied the range of (then) modern technology to the bulk of its resources.11 In this stage development of wider industrial and commercial base will be occurred. Newly developed country will be benefited by the exploitation of comparative advantages in the international trade. It is assuming that it is a time when a society has effectively applied the range of modern technology to its resources. History suggests that the drive to maturity is lasting for about four decades. When a country is in the stage of technological maturity, three significant changes take place. 1. The character of working force change (become skilled). 2. The character of entrepreneurship change. 3. The society feels bored of the miracles of industrialisation and wants something new leading to further change. Rostow gives the symbolic dates for technological maturity of the following countries: Country Great Britain France United States Germany Table: Appendix-b Year 1850 1910 1900 1910 Country Sweden Japan Canada Russia Year 1930 1940 1950 1950

8. Age of the High Mass consumption: The age high consumption is considered as the balance of attention of society is shifted from supply to demand, from problem of production to problem of consumption and of welfare in the wider sense. In this stage the three forces tend to increase welfare in the post maturity stage. a) It is the pursuit of national policy to enhance power and influence beyond national frontier. b) It is to have a welfare state by more equitable distribution of income through taxation, increased social security and leisure to the working force.
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W.W.Rostow(1960), the stages of economic growth: A Non-Commuinst Manifesto

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c) It is introduced decision to create new commercial centres like cheap automobiles, houses and innumerable electrically operated household devices.

Rostow gives the historical dates about the High Mass Consumption... Name of Country United States Great Britain Japan Western Europe Soviet Union Table: Appendix-c Year 1920 1930 1950 1950 After the death of Stalin

9. Limitations of this Economic Growht Model: From the standpoint of underdeveloped countries the take-off has the severals limitations on the perspective of the uderdevelopment one. The limitations of the take-off covers the following matters: a. Capital output ratio not constant: What is said by Rostow about the capital-output ration in the underdeveloped countries that implies constant return to scale and this assumptions is valid in the case of advanced economies. In the perspective of the underdeveloped countries where their economies are charactarized by the pre-dominace of agriculture and primary growth. So where the conditions of diminishing returns to scale for the expansion of the economy, this capital-output ratio not constant. b. Silent over the removal of unemployment: A.K.Dasgupta regards it as the Elimination of an accumulated backlog of unemployment 12 as the minimum that the take-off must accomplish in an underdeveloped economy. According to him, once full employment is secured the economy is raised to a level where growth is self-sustained and spontaneous. So it is imperative to the eliminination of unemployment from the developing country as a whole. c. Element of ambiguity: First peopel have to save a maximum portions money to invest their economy. While the increasing of the national income without reducing the average

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M L Jhingan, The Economics Development and Planning

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propensity to consume. This assumption is not currect to the context of the underdeveloped one because of their economy is not hold constant. Accoding to A.K Dasgupta13, This does not seem to be a sensible interpretation. For even in a highly developed economy the average rate of saving may not remain constant. d. Economic development not spontaneous: The take-off stage what is provided by W.W.Rostow was is considered spontaneous process which is off little significance in the context of an exercise that requires time and form which, after certain speed has been attained and a portion of the runway used up, there is no turing back or even safe throttling down. 14 e. Aeronautical concept not correct: Pro.Bianic 15 does not agree with the symbolical presentation of the take-off, because it appears to him like a light flying animal just got cut off from the earth and floating in the air. It is ab creeping over a very difficult threshold of economic development. One has to creep over it, one can not fly over it. It is not a take-off but very painful process which every underdeveloped country has to go through.

10. Critisicm: W.W.Rostow`s The Stages of Economic Growth: A Non-Comminist Manifesto(1960) is the most widely circulated and highly commented piece of economic literature in recent years. This model was criticized as Are these stages inevitable like birth and death or do they follow a set sequence like childhood, development. A number of nations such as USA, Canada, and Australia were born free of traditional society, so the condition of the traditional society is not essential for growth which is prescribed on the first stage.

1. It is said the pre-conditions may not precede the take-off. It is said that there is no reason to believe that an agricultural revolution and accumulation of social overhead capital in transport take place before the take-off. So the pre-conditions for take-off may not introduce before the take-off.
13
14

Ibid, M L Jhingan, The Economics Development and Planning Ibid, G.M.Meire(1964), Leading Issues in Development Economies,

15
16

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Overlapping in the stages: Social overhead capital in transport and the development of railways has been considered the leading sector in the take-off but experiences showed that the development in agriculture continued in the take-off stage as example on New Zealand and Denmark.17 It is one kind of considerable overlapping in the different stages of the Rostow`s economic model. Criticism of the take-off: The take-off is the most widely discussed and controversial stage. A.K. Cairncross said, The stage that has struck the public mind most forcibly is undoubtedly that of the take-off. Largely, no doubt, because the aeronautical metaphor-prolonged in the phrase into self-sustained growth-suggests at once an effortlessness and finality congenial to modern thouhgt. The reactions of historians and economists habe been less favourable. The have grown accustomed to emphasizing the contuinity of historical change, to tracing back to a previous age the forces producing a social explosion and to explaining away the apparent leaps in economic development. They are declined, therefore, to regard Rostow as a letter day Toynbee, stressing a discontinuity that is no more symptomatic of the underlying forces at work and making the symptoms more decisive than they really were.18

a) The take-off into self-sustained growth was given for India as 193719 what was not currect because the lack of historical evidence. It is assumed that it will take

b) According to this economic growth thoery said that the possibilities of failure is not considered, neglects the effect of historical heritage, time of entry into the process of modern economic growth. As Habakkuk, 20 In his aeronautical concept of growth he (Rostow) ignored the bump down and crash landins. c) A condition of rising of productive investment to over 10% of national income is arbitrary. The investment ratio may be 5,6,7,8 or more and there is no historical data to justify a shapr increace in the saving-income ratio at the

17 18 19 20

M L Jhingan, The Economics Development and Planning A.K.Cairncross,(1962), Factors in Economic Development, page no.138 M L Jhingan, The Economic Development and Planning Habakkuk

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d) On an economy can exist several sector, so the subject of the leading sector can vary from country to country in the perspective of underdeveloped country. So it is a controversial aspect about the growth model. Cairncross questioneed that What connection is there between the conception and later stages? Why must the leading sectors be in manufacturing? If railay building can qualify, why not retail distribution or agriculture?21 e) There are the little differences between the first and third conditions. In the takeoff stage, the first condition is that a rise in the rate of productive investment says from 5% to 10% of national income and the 3rd condition for take-off is the existence or quick emergence of a cultural framework which gives to growth an outgoing character. Rostow said that the necessary condition for this is the capacity to mobilize capital from domestic resources. In fact this is nothing else but the first condition of take-off restated. According to Cairncross22, A definition in these terms tells us nothing about the factors at work since we can only deduce their existence from the fact to take-off, never the likelihood of take-off from the ascertained fact of their existence. 4. The stage of drive to maturity is misguided about the identifications of the political, social and institutional framework. This stage contains the features of rate of investment over 10 percent of national income, development of new production techniques and leading sectors and institutions. These are not end of journey and there is need for a separate stage and it will help the growth process becomes selfsustained. Kuznets23 said that no growth is purely self-sustaining or self-limiting. The characterization of one stage of growth as self-sustainied and of others, by implication, as lacking that property, requires substantive evidence and analysis not provided by Rostow. According to Simon Kuznets (1963)24 It seems to me that Rostow defines these social phenomena as a complex that produces the effect he wishes to explain and then treats this identification as if was a meaningful identification. Canada have reached the stage of high mass consumption before the completation of the fourth stage called the stage of drive to maturity. According to one critic, The period of mass-consumption is nothing else but minus its ideological overtone.
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A.K.Cairncross(1962), page.138 Ibid, M L Jhingan, The Economics Development and Planning,

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Kuznets.S(1963)

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. The high mass consumption leads to more insecure life. Because of the heavy consumption in the developed and underdeveloped countries, people now attacked by the several diseases. As example we can say the unexpected presence of the supporters in the playground during the test-cricket match between Australia vs. England. They have been bored to lead their life because of the high mass consumption. 11. Importance of the Economic Growth Model: The concept of take-off is ideally suited for the industrialization of underdeveloped countries. In the perspective of a developing, this economic growth model is very much emphasized to the wider sense of development. Many Asian and African subSaharan countries where the poverty and its affects very high, this model can be applied by taking proper guide lines according to their present context of that countries. According to A.K.Dasgupta25, The term lacks precision and yet it is suggestive and can be given interpretation which is useful for an understanding of the process of economic development of an underdeveloped country. It is indeed the vagueness of the term that gives it strength for one can put an interpretation upon it to suit the conditions of the economy in which one is interested. 12. The Stage of Economic Growth and the perspective of Bangladesh: Bangladesh is a developing country in the south asian regional area. It gained its independence in 1971 after the liberation war against the oppressive power of Pakistan. Earlier, it was the colony of the British empire from June 23, 1757 to August, 1947. They ruled the whole region of the indian sud-continent, then Bangladesh was the part of this area and it has experienced the rule and divide pricnipal. In that time, Bangladesh was one of the best natural-resouce based country and its recouse was sucked by the ruling power of the Britain. It is great hardship that after the division of this sub-continent, Bangladesh again faced the oppressive power of then West Pakistan and they started to suck its bulk of recoures once again. After the liberation war of Bangladesh against then West Pakistan, Bangladesh experienced its leadership problems because of the political instability, corruption, bureaucratic problems and the misused of the institutional power. Though all of these problem, Bangladesh turn into its main goal where the common people of Bangladesh have to find themselves in the opptimistic position. Bangladesh is a agricultural base economic country & near 75 percent of its people are engaging in this mainstream economic system as a whole. So the village people
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Dasgupta A.K (1965)

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are playing vital role run this economy and in the perspective of Bangladesh context, it passes through the following of the W.W.Rostow`s the stages of the economic growth and development on his major wokrs called The Stages of Economic Growth: A Non-Communist Manifesto, which was published in 1960s by the experience of the developmental process regarding the western developed societies after the break-down of the Soviet Union and its socialism power and politics which was based on the marxism. According to the Rostow`s analysis about the 3rd stage of the take-off is was based on the following assumptions: a) a rise in the rate of productive investment says from 5 to 10 percent, b) the development of one or more substantial manufacturing sectors with a high rate of growth including the primary growth sector, the supplementary growth sector and the derived growth sector as a whole. c) the existence or quick emergence of political, social and institutional framework which expands the modern sector any gives growth an outgoing character.

Bangladesh, in recent years, is expanding its investment rate ratio where it is cleared that the rise of investment from national income is increasing day by day. So we can say that Bangladesh is passing Rostow`s the take-off stage. But the 3rd condition of the take-off stage is blurred in the perspective of Bangladesh. If this condition tries to fulfilled, we need to the change of the governmental officials and its activities, as example, we have to reform the institutional pattern of the government, the reform of the bureaucracy and the fulfillment all of government promises. In the Bangladesh perspective, it is cleared that the promise and the performances of the government and its officials are very much pessimistic. Bangladesh, every year increases its Annual Development Program (ADP) on the basis of the development as the wider perspective and its figure increasingly grow higher and higher and there are thousands of NGOs in our country, but the mainstream development work is low.

The following table initially represents the investment ratio on the GDP of Bangladesh.
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Investment as Percent of Gross Domestic Product(GDP)26 Fiscal Year 1996-97 1997-89 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2007-07 Table: Appendix-d Public Investment 7.03 6.37 6.72 7.41 6.25 6.37 6.20 6.19 6.21 6.00 5.60 Private Investment 13.70 14.26 15.47 15.61 15.84 16.78 17.21 17.83 18.32 18.65 18.73 Total Investment 20.72 21.63 22.19 23.02 23.09 23.15 23.41 24.02 24.53 24.65 24.33 Average Investment27 10.36 10.815 11.095 11.51 11.545 11.575 11.705 12.01 12.265 12.325 12.165

According to the table, technically it is cleared that the investment ratio is increasing day by day what is the necessary condition for the development. But it is fact that the private investment is higher than public investment although our government discourages the privatization on the basis unemployment. But the introducing of the Public Private Partnership (PPP) is another form of privatization is started its work with the expansion of the large development as the development of highly road-constructions etc. Finally, Bangladesh goes through the take-off stage but the ultimate results have to create controversies. The theory and the practice is not the same thing. Bangladesh has to keep with it to reach the stage of high mass consumption and again Bangladesh needs dramatic change in the economic sector which is impossible. To some extent, the Rostovian theory can be applied in Bangladesh but whole scenario in this country is not same.

13. MY UNDERSTANDING: The Stages of Economic Growth: A Non-Comminist Manifesto(1960) is one of the applied economic growth model in the developing country. This masterpiece represents the capitalist development process in the earlier period of the 1960s.
26 27

Bangladesh Bureau of Statistics (BSS), Bangladesh Economic Review 2007 Total investment divided by 2

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W.W.Rostow writes his book on the emphasizing of development process by the experience of developed countries. This is one kind of Westenization and to some extent it introduces the new-colonialization among the developing countries like Bangladesh and so on. It is saying that development activities in many countries is leaded by the developed country and their prescriptions. So the development where will be seen that is a great understanding to the development related students like ours. Practically, this theoty of take-off can be applied in our country because Bangladesh is a underdeveloped one. But the crucial fact is that the 3rd condition of the take-off can not be fulfilled because of the political instability, corruption and the lack of accountability within the goverrmental officials. Though, Bangladesh experieced the rulling class struggle where the common developmental decisions always changing. So it is a challenge towards the poeple of Bangladesh to sustain the development policies as well as the government tenurity. Although I believe that the development can be achieved within this political instability. But we have to change pattern of development. Rostow described the development step by step, so we have to work unitedly in the wider sense of development. But the crucial fact that the underdeveloped country to some extent can not follow the conditions of the model. What is said on the model that is hardly critical to the developing country. Where the whole society is instable, in that sense it is one kind of utopia to the development practissioners. 14. CONCLUSION: The Stage of Economic Growth: A Non-Comminist Manifesto (1960) is one of the influencial work in the sector of economic development. This economic growth model is presented by classification of the traditional society, the pre-conditions for take-off, the take-off, the drive to maturity, and the age of high mass consumption. The intial work is that it is the analysis of the development process by the experience of the developed countries. This model widelly discussed on the development perspective. After the breakdown of the Soviet Union (USSR), the development activities is runned by the super power of america and Rostow`s book influence the capitalism to stop the socialism in the world. The take-off stage of this model represents the capitalist manifestation and spread the neo-colonialism in the world. The recent scenario of the world population also said that the development only for the western world. If underdeveloped country is developed themselves but ultimate difference between the developed and underdeveloped never be decreased. So it is true that whole idea of this economic growth model is depend on the context of any enderdeveloped country where the particular country can agree with the model or not.

15. REFERNCES:

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 W.W. Rostow (1960),The Stages of Economic Growth: A Non-Communist Manifesto Cambridge: Cambridge University Press, Chapter 2  Meier, Gerald M.(1964), Leading Issues in Development Economies, Ox-ford University Press, New York.  Michael P. Todaro, Stephen C. Smith (2010), Economic Development, 10th Edition, Pearson Education Inc. New York.  H. Myint (1967), the Economics of the Developing Countries, Hutchinson University Library, Chicago.  Dasgupta A.K. (1965), Planning and economic Growth, Allen & Unwin, London.  John P. Lewis (1962), Quite Crisis in India, Brookings Intitution, Washington.  Pro.R.Bicanic(1963), Paths to Economic Growth, Allied Publishers New Delhi, New York, Edited by Amlan Datta.  A. K. Cairncross(1962), Factors in Economic Development, Allen & Unwin, London  M L Jhingan, The Economics Development and Planning, Vrindha Publication,Delhi, 33th edition.  Wikipedia, the free encyclopedia. (www.wikipedia.org)\  Z. Y. Hershlag (1969), Blackwell Publishing Ltd, Tel-Aviv, United Arab Emirates  Thirlwall A.P (2003), Growth & Development, 7th Edition, Palgrave Macmillan, New York, United States of America.  Bangladesh Economic Review 2007, Bangladesh Government Press, Tejgaon, Dhaka

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