Theory of Development: Mordernization Theory, Using the Rostow's model to interpret development

This resource explains the gap between developed and underdeveloped economy, third world and first world interpretation of developed and underdeveloped economy. The resource explains , why there are gaps between underdeveloped and developed nations using Rostow’s modernization theory. It explains cultural barriers that inhibits development, using Africa , Asia , and Latin American nations to show why capitalism and industrial system are collapsing and explains collectivism and individualism, in the context of development.