Main conclusion from walt rostows stage theory

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A main conclusion from Walt Rostow's stage theory was that

1. the Sherman Anti-trust Act would promote purely competitive markets and therefore stimulate the rate of economic growth.

2. supply creates its own demand, so that recessions & periods of high unemployment are not likely to persist very long.

3. external effects would not occur as long the market prices were in equilibrium.

4. the drive to maturity would inevitably lead to a period of mass consumption.

5. central economic planning could ultimately become more efficient than the price system.

6. traditional society was overcapitalized leading to low productivity in the industrial sector.

Reference no: EM13894101

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