High wage-economy, sloanism and fordism: the American experience during the golden age

This paper provides an interpretation of the pattern of massconsumption in the American economy at the beginning of thelast century centered on 'sloanism' instead of 'fordism'. Thefinancial, product and marketing innovations associated withGeneral Motor's Alfred Sloan are considered the central featuresof the mass production regime. The American economy was a 'highwage' economy (Hobson) which depended mainly on the high productivityin agriculture (not only in industry) and the new politicalcoalitions and institutions that appeared in the 1930s (andnot in the post-war period as the fordists maintain).