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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
The so-called crisis of Fordism should be seen as a crisis of international regulation.
The former phenomenon-the industrialisation of culture-emerged as a process with the rise of Fordism.
In fact, as will become clear, this is a moment of theoretical reaction and response to the crisis of Fordism.
For one thing, I remain unconvinced that it was the welfare state that was central to Fordism.
Very similar points can be made about the relation between Fordism and Total Quality Management.
With the crisis of Fordism came the end of us economic supremacy and of a joint political US-USSR condominium.

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