Fordism
Nicholas Nicolopoulos
Fordism begins to refer to the American businessman Henry Ford who revolutionized the mass production of automobiles by the means of the assembly line in the midst of an industrialized Western society. This form of consumer capitalism increased the amount of automobiles on the road while increasing employment rate, wages, and labour. The ideology that supported this movement began desensitizing the workforce into low-skilled tasks that would create products in a timely manner (Watson, 2019).
Keynesian Economics
Athira Yogaratnam
Keynesian Economics is a term given to the "demand side" in economics, based on the idea that spending is at the forefront of driving the economy. Economist John Maynard Keynes believed spending to be the key in keeping the economy afloat, and spread the notion that if people were to stop spending altogether, then the government would have to intervene and step in, and help give a boost to the economy through government spending.
Neoliberalism
Jungmin Choi
Neoliberalism refers to a worldview, a set of policy programs and a wide range of political measures in which puts an emphasis on individual freedom. Neoliberal policies put an emphasis on a money-mediated free market system where the government or the state does not interfere or play a minimum role in the operation of the free market system.