Globalization, post-Fordism and the contemporary context of development

This article examines the claims that we are living in a new, global, post-Fordist era. The claims of both globalization and post-Fordism are examined, as well as some of the implications for development. Both theses are questioned, and in particular it is argued that in some respects the two arguments contradict rather than complement each other. An alternative approach is put forward, focusing on the contemporary context for development in the global economy, critically using the notion of global commodity chains. It is argued that we are currently witnessing a variety of strategies of capital accumulation in the world economy, and insofar as generalizations can be made, we have witnessed the end of the Third World as a homogeneous block. While some formerly peripheral countries are now a constituent part of the world economy, others are marginal to its needs. These countries are not so much exploited as simply left out.