Fordism, named after Henry Ford, is a modern economic and social system based on industrial mass production. The concept is used in various social theories about production and related socio-economic phenomena. It has varying but related meanings in different fields, as well as for Marxist and non-Marxist scholars. In a Fordist system the worker is paid relatively high wages in order to buy in large quantity the products turned out in mass production.
Read more about Fordism: Introduction, Ford Motor Company, Economic Structure, Fordism in Western Europe, Fordism and The Soviet Union, In Regulation Theory, Cultural References, Other Senses, Post-Fordism