Almost two years ago, in January 2019, Professor Hai Wen gave a lecture at the China Economy Lecture Hall on the take-off of China’s economy.Today, I am very glad to attend this annual meeting. I chose this topic for further discussion, mainly to take this opportunity to express my gratitude to Professor Hai Wen for his great efforts in building our academic community, and to pay tribute and express my gratitude.
The takeoff in the question is highly recognizable.Because in the study of economic growth and development, when you talk about this concept, you will think of Rostow.Rostow was a controversial and influential economist.He was a descendant of Russian Jews, who immigrated to the United States and became a brilliant student at 15, then went to Oswald to get his master’s degree and then his PhD.During World War II, he was hired by the U.S. Office of Strategic Services, along with another economist, to use his expertise in the anti-Fascist war to figure out how to bomb Germany to win as quickly as possible.Their conclusions at the time were also very interesting.Bombing oil installations rather than transport hubs would have had a greater impact on the failure of fascism.The way that economists do it is a very basic way.
After the war, he taught in many famous American universities, mainly studying economic history and economic thought.He was hired by Johnson and Kennedy to be one of the White House’s decision-makers because he was a proponent of the economically advanced country’s aid to the developing world.Of course he was most controversial for pushing for the Vietnam War, for a massive surge of troops in Vietnam and for bombing the south of NATO.After Kennedy left office at the end of the Vietnam War, all academic institutions stopped hiring him because anti-war sentiment in the United States had reached a post-World War II high.In the end, he taught in the schools of Austin, giving him the opportunity to study academia for the last few decades.
The origin of Rostow’s ideas on economic take-off was an academic lecture he gave in Cambridge in 1958. The theory of take-off was derived from the experience of studying the industrialization of the West, and the concept was published in 1960 under the title “Stages of Economic Growth”.
One of the more desirable aspects of Rostow’s growth theory, especially his take-off theory, is that he treats the entire economic development as a very long process, rather than something that can be described and characterized by a simple function.Since it is a long process, we can do the research in separate stages.The most critical stage is the long course of human history, characterized by traditional economies that rely only on natural resources rather than the active use of science and technology.