Mass productionMass production, also known as flow production or continuous production, is the production of substantial amounts of standardized products in a constant flow, including and especially on assembly lines. Together with job production and batch production, it is one of the three main production methods. The term mass production was popularized by a 1926 article in the Encyclopædia Britannica supplement that was written based on correspondence with Ford Motor Company.
CapitalismCapitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
State capitalismState capitalism is an economic system in which the state undertakes business and commercial (i.e. for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor). The definition can also include the state dominance of corporatized government agencies (agencies organized along business-management practices) or of public companies such as publicly listed corporations in which the state has controlling shares.
Anti-capitalismAnti-capitalism is a political ideology and movement encompassing a variety of attitudes and ideas that oppose capitalism. In this sense, anti-capitalists are those who wish to replace capitalism with another type of economic system, such as socialism or communism. Socialism Socialism advocates public or direct worker ownership and administration of the means of production and allocation of resources, and a society characterized by equal access to resources for all individuals, with an egalitarian method of compensation.
ColonialismColonialism is a practice by which a country controls people or areas, often by establishing colonies, generally for strategic and economic advancement. There is no clear definition of colonialism; definitions may vary depending on the use and context. Colonialism is etymologically rooted in the Latin word "Colonus", which was used to describe tenant farmers in the Roman Empire. The coloni sharecroppers started as tenants of landlords, but the system evolved so they were permanently indebted to the landowner and were trapped in servitude.
Criticism of capitalismCriticism of capitalism is a critique of political economy that involves the rejection of, or dissatisfaction with the economic system of capitalism and its outcomes. Criticisms typically range from expressing disagreement with particular aspects or outcomes of capitalism to rejecting the principles of the capitalist system in its entirety. Criticism of capitalism is generally a left-wing to far-left stance on political economy.
Anarcho-capitalismAnarcho-capitalism (or, colloquially, ancap or '"an-cap"') is an anti-statist, libertarian, political philosophy and economic theory that seeks to abolish centralized states in favor of stateless societies with systems of private property enforced by private agencies, the non-aggression principle, free markets and self-ownership, which extends the concept to include control of private property as part of the self.
FordismFordism is an industrial engineering and manufacturing system that serves as the basis of modern social and labor-economic systems that support industrialized, standardized mass production and mass consumption. The concept is named after Henry Ford. It is used in social, economic, and management theory about production, working conditions, consumption, and related phenomena, especially regarding the 20th century. It describes an ideology of advanced capitalism centered around the American socioeconomic systems in place in the post-war economic boom.
StandardizationStandardization or standardisation is the process of implementing and developing technical standards based on the consensus of different parties that include firms, users, interest groups, standards organizations and governments. Standardization can help maximize compatibility, interoperability, safety, repeatability, or quality. It can also facilitate a normalization of formerly custom processes.
Settler colonialismSettler colonialism is a type of colonialism in which foreign settlers immigrate and permanently reside on land already inhabited by Indigenous residents. Settler colonialism causes the replacement or reduction of existing peoples and cultures; some, but not all, scholars describe the process as inherently genocidal. It may be enacted by a variety of means, ranging from violent depopulation of the previous inhabitants to less deadly means, such as assimilation or recognition of Indigenous identity within a colonial framework.
Humanistic capitalismHumanistic capitalism is a concept that seeks to unite humanism, specifically the safety and health needs of people and the environment, with market forces and a market-based economy. It is often seen as a middle ground between the ideas of modern capitalism and democratic socialism. Muhammad Yunus describes humanistic capitalism as a socially conscious business world where investors are content to recoup their investments but do not expect additional dividends.
History of capitalismThe history of capitalism is diverse and the concept of capitalism has many debated roots. The history of the past 500 years is concerned with the development of capitalism in its various forms. Capital accumulated by a variety of methods, at a variety of scales, became associated with much variation in the concentration of wealth and economic power. Capitalism gradually became the dominant economic system throughout the world. The processes by which capitalism emerged, evolved, and spread are the subject of extensive research and debate among historians.
Assembly lineAn assembly line is a manufacturing process (often called a progressive assembly) in which parts (usually interchangeable parts) are added as the semi-finished assembly moves from workstation to workstation where the parts are added in sequence until the final assembly is produced. By mechanically moving the parts to the assembly work and moving the semi-finished assembly from work station to work station, a finished product can be assembled faster and with less labor than by having workers carry parts to a stationary piece for assembly.
Commodity fetishismIn Marxist philosophy, the term commodity fetishism describes the economic relationships of production and exchange as being social relationships that exist among things (money and merchandise) and not as relationships that exist among people. As a form of reification, commodity fetishism presents economic value as inherent to the commodities, and not as arising from the workforce, from the human relations that produced the commodity, the goods and the services.
MechanizationMechanization is the process of changing from working largely or exclusively by hand or with animals to doing that work with machinery. In an early engineering text a machine is defined as follows: Every machine is constructed for the purpose of performing certain mechanical operations, each of which supposes the existence of two other things besides the machine in question, namely, a moving power, and an object subject to the operation, which may be termed the work to be done.
Henry FordHenry Ford (July 30, 1863 – April 7, 1947) was an American industrialist and business magnate. He was the founder of Ford Motor Company, and chief developer of the assembly line technique of mass production. Ford created the first automobile that middle-class Americans could afford, and his conversion of the automobile from an expensive luxury into an accessible conveyance profoundly impacted the landscape of the 20th century. Ford was born on a farm in Michigan's Springwells Township, leaving home at age 16 to work in Detroit.
PropagandaPropaganda is communication that is primarily used to influence or persuade an audience to further an agenda, which may not be objective and may be selectively presenting facts to encourage a particular synthesis or perception, or using loaded language to produce an emotional rather than a rational response to the information that is being presented. Propaganda can be found in a wide variety of different contexts.
CommodificationWithin a capitalist economic system, commodification is the transformation of things such as goods, services, ideas, nature, personal information, people or animals into objects of trade or commodities. A commodity at its most basic, according to Arjun Appadurai, is "anything intended for exchange," or any object of economic value. Commodification is often criticized on the grounds that some things ought not to be treated as commodities—for example, water, education, data, information, knowledge, human life, and animal life.
History of colonialismThe historical phenomenon of colonization is one that stretches around the globe and across time. Ancient and medieval colonialism was practiced by the Phoenicians, the Greeks, the Turks, and the Arabs. Colonialism in the modern sense began with the "Age of Discovery", led by Portuguese, who became increasingly adventuresome following the conquest of Ceuta in 1415, aiming to control navigation through the Strait of Gibraltar, expand Christianity, obtain plunder, and suppress predation on Portuguese populations by Barbary pirates as part of a longstanding African slave trade; at that point a minor trade, one the Portuguese would soon reverse and surpass.
Discourse on ColonialismDiscourse on Colonialism (Discours sur le colonialisme) is an essay by Aimé Césaire, a poet and politician from Martinique who helped found the négritude movement in Francophone literature. Césaire first published the essay in 1950 in Paris with Éditions Réclame, a small publisher associated with the French Communist Party (PCF). Five years later, he then edited and republished it with the anticolonial publisher Présence africaine (Paris and Dakar).
