Since the 18th Century, people have had the idea that they can develop and change their societies for the better. Arguably, the topics of growth, development and modernization are inseparable in the modern world. Three key aspects of development exist, namely the economic, sociological and psychological perspectives. It is the aim of each and every country to achieve a higher state of development, since this represents better living standards and welfare of its citizens. This paper explores the topic of modernization, critically analyzing its basic argument, its features and characteristics, and discussing the contribution of Walt Rostow in the form of his five stages of economic development. The modernization theory explains the process through which modernization occurs in societies. Its origin can be traced back to the 18th century, to the development of the basic principles of the Idea of Progress. This period came to be referred to as the “Age of Enlightenment”, signifying the period when people brought up with the idea that they could change their societies. The fundamental line of reasoning of the modernization theory is that societies change from traditional to a modern form. A number of factors are associated with this change, including technology, economic growth and development, education, religion and culture. According to Marquis de Condorcet, economic development and advancement in technology can lead to change in cultural value, consequently leading to social progress (Perry et al. 194). This became evident since as societies adopted the idea of modernization, further radical changes in the social structure came into existence, bringing about the social evolution. This was characterized by division of labor in the society, industrialization, globalization and capitalism. According to this theory, development is the process through which societies achieve modernization. According to the modernization theory, traditional societies can achieve the same status as the developed societies using the same criteria as the latter, provided the former gets the necessary assistance. The modern society refers to the U.S.A and Western Europe countries. All other countries aiming to achieve the status of a modern society must imitate these developed countries. Modernization theory exhibits several characteristics. Top on this list is the proposition that development leads to modernization. This theory suggests that a country can only achieve modernization if it experiences significant levels of development in three key areas: economically, sociologically and psychologically. The psychological aspect is a significant element of development, since psychological intentions form the driving force of economic growth (McClelland et al. 5). Focusing on the economic aspect, one of the most significant contributors to this theory is Walt W. Rostow. For instance, he put forward a non-communist manifesto identifying five stages of economic development ( Stages of Economic Growth 4). According to Rostow, development can only be achieved through capitalism and industrialization ( Process of Economic Growth 6). This theory is discussed in details later in this paper. Another significant proposition by the modernization theory is that development is a linear and