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Terms in this set (142)

-the factory assembly line was eventually perfected by Henry Ford (1863-1947).
-ford's factory was the very model of efficiency and allowed automobiles to be mass-produced at prices many people could actually afford.
-his success helped his motor company grow to be one of the most influential corporations in the world.
-he also instituted employment policies in his factories that were nothing short of revolutionary.
-paid his workers a healthy living wage and capped the workday at eight hours
-thought that well-paid workers would be more loyal to the company, more dependable at their jobs, and easier to work with overall.
-also argued that a factory line worker should be able to afford the product that he was helping to make.•
-his policies were a remarkable success, and the company prospered, perhaps in part because by paying his workers enough to buy the cars they were making, Ford was also creating consumers. •Fordism (ford's model of efficient factories with well-paid workers) spread throughout U.S. corporations after World War II.
-Wages, benefits, and corporate profits all rose steadily for the next several decades.-this prolonged economic boom period helped to create the modern American middle class, which we now presume to be the norm.
-After 1973 (oil shortage) offshoring and outsourcing
-The costs of labor and raw materials have gone down, and corporate profits have gone up; corporate influence has spread throughout a variety of nations.
-the core nations where most of the corporations originated lost large numbers of jobs.-these jobs had both created and supported a middle class.
-Peripheral nations were the recipients of these manufacturing jobs, but at lower pay and with harsher working conditions.
-in recent news, the Foxconn corporation, which uses Chinese factories to manufacture Apple's iPhones, had to install suicide prevention nets around its buildings.•Too many workers had tried to jump.