Describe one important criticism of Rostow's stages of economic growth theory
What will be an ideal response?
The stages are only necessary and not sufficient conditions, savings is too aggregate
a measure, the theory does not take into account the constraints of the international economic order, and there are counter-examples such as Argentina.
You might also like to view...
Which of the following statements is true?
a. Monopoly results in smaller output and a higher price than would be the case under perfect competition. b. The monopolist produces at an output where P > MC and the marginal value to society of the last unit produced is greater than its marginal cost. c. The monopoly is not producing enough output from society's standpoint. d. Monopoly may lead to greater concentration of economic power and could retard innovation. e. All of these statements are true.
The two major types of financial systems are the __________-oriented systems
A) federal- and local B) banking- and markets C) securities- and equities D) contributor- and stockholder