Globalization of production | Article about globalization of production by The Free Dictionary
globalization of production
Also found in: Acronyms
globalization of production the integration of economic activities by units of private capital on a world scale. Globalization is a key element of post-Fordism (see FORDISM AND POST-FORDISM), and resides in the ability of the MULTINATIONAL COMPANY OR CORPORATION to harmonize, integrate and make its production flexible (see FLEXIBLE PRODUCTION). This ability has been enormously enhanced by the new technologies of communication and robotics. Final products can be assembled from many individual units, made in a large number of different countries, and can be flexibly produced to meet changing demand and to fill individualized market niches. Production thus becomes spatially structured, with multinationals organizing activity internationally in order to take advantage of different wage rates and different levels of unionization, to force employees to compete with each other, and to develop coherent global strategies of accumulation. Compare WORLD SYSTEM, PLURALIZATION OF CULTURE.