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Fordism 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.
Rostow's model is descendent from the liberal school of economics, emphasizing the efficacy of modern concepts of free trade and the ideas of Adam Smith.It also denies Friedrich List’s argument that countries reliant on exporting raw materials may get “locked in”, and be unable to diversify, in that Rostow's model states that countries may need to depend on a few raw material exports to ...
Otto Peters (born 6 May 1926) is the Founding Rector [1] and professor emeritus at the FernUniversität (Distance Teaching University) in Hagen, Germany. [2] He has made contributions to the conceptual development of distance education.
The Dual Sector model, or the Lewis model, is a model in developmental economics that explains the growth of a developing economy in terms of a labour transition between two sectors, the subsistence or traditional agricultural sector and the capitalist or modern industrial sector.
Furthermore, the companies of the industrial system facilitate a system of informal price fixing and price stability to ensure long-term planning is feasible. Galbraith also asserts that the traditional notions of risk most closely associated with small enterprise become less relevant to large industrial enterprises and conglomerates.
Model-based enterprise (MBE) is a term used in manufacturing, to describe a strategy where an annotated digital three-dimensional (3D) model of a product serves as the authoritative information source for all activities in that product's lifecycle. [1] [2] A key advantage of MBE is that it replaces digital drawings.
The book is largely based on his 2010 article, "In the Next Industrial Revolution, Atoms Are the New Bits". [4] The ideas he portrayed, such as crowdsourcing of ideas , utilization of available lower-cost design and manufacturing tools, and reviewing options to outsource capital-intensive manufacturing were highlighted in the February 2010 ...
Fitz Gerald’s version of this model of an industrializing economy has three commodity markets (food, manufactures and capital goods), foreign trade and income distribution which underpin the specification of a financial-sector with savings, investment, fiscal and monetary balances. [8]