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Define and describe the difference between fordism and post-fordism.

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Fordism refers to a system of production made popular by Henry Ford. He popularized the assembly line method of mass production of a standardized product. This era led to payment of better wages to the workers and social welfare policies being implemented by both industrialists and the state. 

Post-fordism refers to the method 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. This period also marks the growth of the culture and leisure industry evident in the appearance in cities of shopping malls, multiplex cinema halls, etc. 

For example, Nike grew enormously from its inception in the 1960s as an importer of shoes. The founder Phil Knight imported shoes from Japan and sold them at athletic meetings. The company grew to a multinational enterprise, a transnational corporation. Its headquarters are in Beverton, just outside Portland, Oregon. Only two US factories ever made shoes for Nike. In the 19 60s they were made in Japan. As costs increased production shifted to South Korea in mid-1970s. Labour costs grew in South Korea, so in the 1980s production widened to Thailand and Indonesia.

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