I noticed that the "top-tier" specialisations also have a modern and a traditional option. In many cases the modern version gives more growth bonuses but less upfront income in return for modernisation and modernisation-related unhappiness whereas the traditional version gives less growth bonus but more upfront income and no modernisation or modernisation-related unhappiness.

In many cases it seems better to go with traditional over the modern, assuming you have maximised development, although I suppose if you are going for the long haul the growth might be better?