The Modernization Theory Explained | The Stages Of Economic Growth

Modernization theory explains the transition from traditional to modern societies, influenced by cultural and social factors. Originating from Max Weber's ideas, it involves democracy, industrialization, and globalization. Rostow's stages describe economic growth from traditional to modern economies, highlighting the need for technological advancement and infrastructure. Critics argue the theory overlooks differences between capitalist and communist societies, focusing mainly on Western economies.

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