ABSTRACT
This chapter examines the argument that capitalism has moved from a Fordist to a post-Fordist era based on flexible production. It also acknowledges that significant changes have occurred and draws on the discussion — of the arguments both for and against a new period of capital accumulation - to draw out some of the implications for the Third World. The chapter suggests a more nuanced approach, which examines different sectors, countries, and so on in rejecting a blanket pessimism or optimism. One impact of flexible accumulation is the possibility that industrial production — including the lower-value end — will relocate back to the established regions of accumulation. Potential automobile industrializers face the disadvantages of limited markets, lack of technology and skills, and limited experience in advanced methods of industrial organization. A commodity chains approach is one fruitful way of understanding the hierarchical location of production in the world economy.
