Functionalism • modernization theory looks at how resources and institutions within a society can lead to economic development • Rostow’s model proposes five stages that societies pass through as they...

Functionalism

• modernization theory looks at how resources and institutions within a society can lead to economic development

• Rostow’s model proposes five stages that societies pass through as they develop and become fully industrialized

• in the final stage, there is widespread consumption of basic consumer goods, and most people have some disposable income