What is the Fordist compromise?
Third, as a mode of regulation, Fordism comprises (1) an institutionalized compromise between organized labour and big business whereby workers accept management prerogatives in return for rising wages, (2) monopolistic competition between large firms based on cost-plus pricing and advertising, (3) centralized …
What is Fordism principle?
Fordism is “the eponymous manufacturing system designed to spew out standardized, low-cost goods and afford its workers decent enough wages to buy them.” It has also been described as “a model of economic expansion and technological progress based on mass production: the manufacture of standardized products in huge …
Is Fordism relevant today?
Fordism is probably still expanding. Mass production of standardised goods on assembly lines is probably becoming more, not less, widespread. The “pre-Fordist” service industries are becoming more “Fordist” rather than “post-Fordist”.
When was Fordism introduced?
Fordism refers to the system of mass production and consumption characteristic of highly developed economies during the 1940s-1960s. Under Fordism, mass consumption combined with mass production to produce sustained economic growth and widespread material advancement.
What is the Filipino / Tagalog translation of the English word compromise?
The best Filipino / Tagalog translation for the English word compromise. magk a sund ô [verb] to patch up one’s differences; to compromise; to reconcile; to agree; to get along 4 Example Sentences Available » more…
What is the meaning of Fordism?
Fordism, a specific stage of economic development in the 20th century. Fordism is a term widely used to describe (1) the system of mass production that was pioneered in the early 20th century by the Ford Motor Company or (2) the typical postwar mode of economic growth and its associated political and social order in advanced capitalism.
Which of the following is an attribute of post-Fordism?
Information technology, white-collar work, and specialization are some of the attributes of post-Fordism. The period after Fordism has been termed Post-Fordist and Neo-Fordist.
What is the Fordist mode of growth?
The Fordist mode of growth became dominant in advanced capitalism during postwar reconstruction and is often credited with facilitating the long postwar boom. During the 1970s, however, its underlying crisis tendencies became more evident.