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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.
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.
His sermonette about how academics and polemicists misuse history when they construct bogus categories like Fordism and Taylorism was very nicely done.
For one thing, I remain unconvinced that it was the welfare state that was central to Fordism.
Fordism had an external method of putting on pressure to increase production: the foremen.

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