concession

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concession

1. Brit a reduction in the usual price of a ticket granted to a special group of customers
2. any grant of rights, land, or property by a government, local authority, corporation, or individual
3. US and Canadian
a. the right to maintain a subsidiary business on a lessor's premises
b. the premises so granted or the business so maintained
c. a free rental period for such premises

Concession

 

an agreement granting, under specified terms, rights for the exploitation of natural resources and enterprises belonging to a country or municipality. In capitalist countries, concessionaires are usually large monopolies which use the concession to make monopolistic profits.

In the era of imperialism, international concessions developed extensively, enabling the imperialist powers to ensure raw materials for themselves and to preserve their economic influence in developing countries. Examples of such concessions are the petroleum concessions of imperialist monopolies in the Middle East and North Africa. These concessions, particularly those granted before World War II or in the early postwar years, covered vast areas and were given for long terms. Concessions in Bahrain, Trucial Oman, Qatar, Kuwait, Muscat and Oman cover the entire country. The Bahrain Petroleum Company received a concession for 91 years and the Kuwait Oil Company for 92 years. The concession agreements granted the foreign monopolies the exclusive right of extraction, processing, and marketing of petroleum and guaranteed them the right to build means of transportation, pipelines, ports, and other necessary installations.

In the early 1950’s, with the growth and strengthening of the world socialist system and the upsurge in the liberation movement, the imperialists were forced to agree to increase payments for their concessions in a number of Middle Eastern and North African countries. Previously specified payments were replaced by the principle of an equal division of profits, although the colonial nature of the existing concessions remained unchanged. Since the export of petroleum is the main source of revenue for many Middle Eastern and North African countries, they began to coordinate their efforts to gain more advantageous terms for the concessions they granted.

In 1960 the Organization of Petroleum Exporting Countries (OPEC) was formed to work out a uniform policy aimed at changing the unequal terms of concession agreements, increasing petroleum revenues, and developing national petroleum industries. OPEC launched an offensive against the oil monopolies and achieved significant success. By 1973 OPEC was making decisions that hitherto had been made exclusively by foreign monopolies, particularly those concerning prices and the distribution of profits from the extraction of crude oil between the producing countries and the monopolies.

The concessions that existed in the USSR in the period of transition from capitalism to socialism were fundamentally different economically and politically. The decree of Nov. 23, 1920, permitted the granting of concessions in order to attract foreign capital into industries and regions that the Soviet government was unable to develop at the time. V. I. Lenin thus described the aim of these concessions: “We make sacrifices giving to the foreign capitalists millions of the most valuable materials … , but at the same time we must get the advantages we need, that is, an increase in production volume and, if possible, the improvement of the condition of our workers, both those employed in concession enterprises and those not employed by them” (Poln. sobr. soch., 5th ed., vol. 43, p. 190). Under the dictatorship of the proletariat, concessions were used only to the extent that they could be useful for the development of the national economy, and they did not in the least affect the economic independence of the USSR. Concessions in the USSR played an auxiliary role in economic construction and were not extensive. By 1937 all concession agreements were canceled with the con-sent of the concessionaires.

REFERENCES

Lenin, V. I. “Zakliuchitel’noe slovo po dokladu o kontsessiakh.” Poln. sobr. soch., 5th ed., vol. 42.
Lenin, V. I. Ibid., pp. 118–24, 126–27.
Lenin, V. I. “Doklad o kontsessiakh.” Ibid., vol. 43.
Lenin, V. I. “Russkoi kolonii v Severnoi Amerike.” Ibid., vol. 45.
Lenin, V. I. A. P. Serebrovskomu. (Letter.) Ibid., vol. 52.
Lenin, V. I. “Telegramma kraevomu ekonomicheskomu soveshchaniu lugo-Vostoka.” Ibid., vol. 54.
Lenin, V. . Armandu Hammeru. (Letter.) Ibid., vol. 54.
Lenin, V. I. I. V. Stalinu dlia chlenov Politbiuro TsK RKP (b). (Letter.) Ibid.
Andreasian, R. N., and A. Ia. El’ianov. Blizhnii Vostok, neft’ i nezavisi-most’. Moscow, 1961.
Levin, A. Ia. Sotsial’no-ekonomicheskie uklady v SSSR v period perekhoda ot kapitalizma k sotsializmu. Moscow, 1967.
Mikdashi, Z. A Financial Analysis of Middle Eastern Oil Concessions 1905–1965. New York [1966].

N. A. ARSHARUNI

concession

i. Permission allowed by a designated authority to operate an aircraft even when there is some shortfall in terms of serviceability of some system.
ii. Permission granted for continued use of a component for a specific period of time when it is due for servicing or replacement. This is also applicable to servicing of the complete aircraft.
References in classic literature ?
I owe to her--what I would concede to no man alive--a PROOF of the truth of my assertion.
Losberne for Oliver's appearance if he should ever be called upon; and Blathers and Duff, being rewarded with a couple of guineas, returned to town with divided opinions on the subject of their expedition: the latter gentleman on a mature consideration of all the circumstances, inclining to the belief that the burglarious attempt had originated with the Family Pet; and the former being equally disposed to concede the full merit of it to the great Mr.
The meek man was quite willing to concede that, but perhaps it rendered the matter even worse, as showing that there must be something appallingly wrong somewhere.
hear); to Muggleton I will readily concede all these honours and distinctions to which it can fairly lay claim--they are too numerous and too well known to require aid or recapitulation from me.
Harrison concedes, is `a buster of a good thing'--even if you do know that probably half a dozen interested people are listening along the line.
They also concede fewer goals without him, averaging 1.
But particularly the second goal, you can't concede goals like that - (we were) miles too open, the ball is on the half way line and within a couple of seconds it is in the back of my net, so that is not acceptable conceding goals like that.
European captain Koch approached the match referee on the 18th to ask if there was anything she could do and was told they could concede the hole, but opted not to after Pettersen insisted she would not have conceded Lee's putt.
In the Premier League against better opponents promoted teams score less often and concede more frequently.
BEST DEFENCE "IF you don't concede goals then you always have a chance of winning promotion".
If you say to me 'would rather concede one goal and lose the game' or 'concede five and still have the opportunity to win the game' then it is always about having the opportunity to win the game.
They clawed their way back to within three points in the final quarter after leaking four tries only to concede two more in the closing stages.