Question
Differentiate between Fordism and Post-Fordism.
Solution
Fordism: Fordism refers to a system of production made popular by the American Industrialist Henry Ford in the early part of 20th century. This age also led to payment of better wages to the workers and social welfare policies being executed by both industrialists and the state.
Post Fordism: It refers to the device of flexible production adopted by multinational companies who either off-shore their production units or outsource the whole process of production and distribution to third world countries because of the availability of cheap labour.
