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What is Fordism?

What is Fordism? Here are some definitions.

Noun
  1. An economic and social system based on industrial mass production, where the worker is paid relatively high wages in order to buy in large quantity the products turned out in mass production.
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Examples
Fordism had an external method of putting on pressure to increase production: the foremen.
Despite the great enthusiasm for American methods, Fordism, as it was becoming known, did not take root in Germany.
The former phenomenon-the industrialisation of culture-emerged as a process with the rise of Fordism.
Very similar points can be made about the relation between Fordism and Total Quality Management.
For one thing, I remain unconvinced that it was the welfare state that was central to Fordism.
The development of the welfare state based on Fordism was supported by mass consumerism to stimulate growth.

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