A society here has effectively applied the range of modern technology to the bulk of its resources
10% to 20% of the National Income is still steadily investment allowing output to out stream population
New industries accelerate and the older industries level off
The economy finds a place in the international economy where goods formally imported are produced at home
Three things happen in this stage:
a. The work force composition in agriculture shifts from about 75% of labor to 20%
b. Leadership character in industries changes significantly and high degree of professionalism is introduced
c. Environmental and health cost of industrialization are recognized
Dana05 answered the question on July 3, 2019 at 11:30
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