Foundations of Contemporary Economics: Walt Rostow on the Stages of Economic Growth, Development Policy and Anti-Communism

Henrik Egbert, Teodor Sedlarski and Aleksandar B. Todorov

Economic Thought journal, 2026, issue 3, 424-446

Abstract: This article examines the scholarly contribution and political activity of Walt W. Rostow (1916–2003) through a historical-interpretative approach. It focuses on his stages of economic growth as an alternative to Marxist interpretations of development and as part of broader post-war debates in development economics. The analysis shows that Rostow’s stage theory, anti-communist worldview and involvement in U.S. development policy were closely related but should not be conflated, while U.S. strategy in Vietnam cannot be treated as a direct application of his theory. In retrospect, elements of Rostow’s model remain useful for interpreting post-socialist transformations and China’s development, but its explanatory power is limited by linearity and an assumption of self-sustaining growth.

JEL-codes: B31 O10 O53 P11 P20 (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2026:i:3:p:424-446

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