ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Fordism
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Toyotaism
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Post-Fordism
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Assembly Line
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Detailed explanation-1: -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.
Detailed explanation-2: -Post-Fordism is characterized by the following attributes: Small-batch production. Economies of scope. Specialized products and jobs.
Detailed explanation-3: -Under Fordism, the industrial worker had to work at a pace dictated by the speed of the assembly line. Work was repetitive and often exhausting. Under Post-Fordism, if you have job, you have to work at a speed dictated by computers, and you are competing, wage-wise, with other desperate people in low-wage countries.