Flexible accumulation, as I shall tentatively call it, is marked by a direct confrontation with the rigidities of Fordism. It rests on fl exibility with respect to labour processes, labour markets, products, and patterns of consumption. It is characterized by the emergence of entirely new sectors of production, new ways of providing fi nancial services, new markets, and, above all, greatly intensifi ed rates of commercial, technological, and organizational innovation. It has entrained rapid shifts in the patterning of uneven development, both between sectors and between geographical regions, giving rise, for example, to a vast surge in so-called service-sector employment as well as to entirely new industrial ensembles in hitherto undeveloped regions … It has also entailed a new round of what I shall call ‘time-space compression’ in the capitalist world – the time horizons of both private and public decision-making have shrunk, while satellite communication and declining transport costs have made it increasingly possible to spread those decisions immediately over an ever wider and variegated space.