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This model is useful because it is an accurate representation of many countries today.

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In 1960, American economist Walt W. Rostow developed a modernization model. He assumed all countries wanted to modernize.

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Spends money on nonessential goods
Supports a strong tertiary sector
Purchases of high order goods becomes common

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Improves energy, transportation, and communication systems
Invest in social infrastructure
Sees economic growth greater than population growth.

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Open to major technological innovations. Begins to urbanize
Spreads entrepreneurial mentality.

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Uses more technology more widely. Improves infrastructure. Begins international trade.

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No country is at this stage today. Limited technology and carries out local or regional trading.