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Article: Stages of Economic Growth
- Article from:
- International Encyclopedia of the Social Sciences
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Stages of Economic Growth
DEFINITIONS OF ROSTOW
’
S STAGES
STAGES OF ENDOGENOUS GROWTH
UNIFIED THEORY OF GROWTH AND DEVELOPMENT
POLITICAL AND POLICY CONSEQUENCES
BIBLIOGRAPHY
The attempt to search for a common set of general stages in the historical development of nations and their economies goes back to Adam Smith, who defined four stages of societal organization: the original stage of hunters, a second stage of
“
shepherds
”
or nomadic agriculture, a third stage of feudal
“
farming agriculture,
”
and a fourth and final stage of commercial society.
The most commonly accepted set of stages are those postulated by Walt Whitman Rostow, who in
The Stages of ...