Question

Critically examine the arguments for economic growth advanced by Rostow and discussed it as it relates to the Jamaican economy.

Answer 1

One of the key masterminds in twentieth century Development Studies was W.W. Rostow, an American market analyst and government official. B Rostow wrote his great "Stages of Economic Growth" in 1960, which introduced five stages through which all nations must go to get created: 1) customary society, 2) preconditions to take-off, 3) take-off, 4) drive to development and 5) period of high mass utilization. The model affirmed that all nations exist some place on this straight range, and climb upward through each phase in the improvement procedure:

Customary Society: This stage is described by a subsistent, farming based economy with serious work and low degrees of exchanging, and a populace that doesn't have a logical viewpoint on the world and innovation.

Preconditions to Take-off: Here, a general public starts to create fabricating and a progressively national/worldwide—instead of territorial—standpoint.

Take-off: Rostow depicts this phase as a brief time of escalated development, where industrialization starts to happen, and laborers and organizations become focused around another industry.

Drive to Maturity: This stage happens over an extensive stretch of time, as ways of life rise, the utilization of innovation increments, and the national economy develops and differentiates.

Time of High Mass Consumption: At the hour of composing, Rostow accepted that Western nations, most quite the United States, involved this last "created" stage. Here, a nation's economy thrives in an industrialist framework, portrayed by large scale manufacturing and commercialization.

As indicated by the 2010 Economic and Social Survey of Jamaica, the nation is as of now at stage 3 of the segment progress model (moderate development). This is clear in the populace (diminishing birth rates and generally low passing rates.) Also, the technology shows why Jamaica is in stage 3 of the demographic change model. For instance, the greater part of Jamaica's populace has web get to. Additionally, Jamaica has 28 airports, 22 train stations, and 22,121 km of streets, this shows Jamaica, in general, has been influenced by their modern insurgency (stage 2).

Its social insurance framework and the open administrations it needs to pay for the most and why:

There are just 24 medical clinics and 330 wellbeing focuses on the island, Jamaica. Most are situated in Kingston and Montego Bay, there are a few emergency clinics dispersed outside these urban communities. There is a deficiency in dental specialists and medical caretakers on the island. Human services is allowed to all citizens and legal inhabitants. Private centers are accessible in Jamaica, as long as the individual can pay for it. Jamaica utilizes 1 to 5 percent of its GDP in human services spending. Likewise, Jamaica's administration has as of late passed a bill permitting the incapacitate to get instruction, preparing, human services, lodging, and open transportation.

Nation's ability to take care of its kin and why:

Physiological thickness is the quantity of individuals bolstered by a unit of arable land. The physiological thickness of Jamaica is 2,424.76. There is 10,830 sq. km of arable land in Jamaica. Jamaica has the ability to take care of its kin, since over 75% of Jamaica's territory is arable (10,830 sq. km to 11, 424 sq. km). Be that as it may, Jamaica's yields cost more than the universal cost of harvests; it is cheeper to import crops, at that point to develop them on the island.

Stage in Rostow's Development:

Jamaica is in stage 3 of the Rostow's Development Model (the take off). There is quick development in the tourism and mining industry. These industries achieved technical progresses and became beneficial. The tourism industry, of Jamaica, makes $1.5 billion US dollars a year. Yet, agriculture is still comparative with the Jamaican society. Truth be told, the essential segment of Jamaica is 17%.