Reconversion

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Reconversion

 

in a postwar economy, the switch to the production of civilian output. Reconversion implies structural shifts in production, capital investments, and foreign trade turnover and, in most cases, the implementation of a monetary reform and a change in the legal regulation of the economy. The restoration and reconversion of the economy are concurrent processes. During reconversion there is a temporary decline in the absolute level of production.

In the capitalist countries reconversion is carried out spontaneously, in the context of an acute competitive struggle. Moreover, it is accompanied by rising unemployment associated with the decline in military orders. The monopolies maintain high prices for consumer goods, making it possible to pass on to the working people the expenditures associated with reconversion. After World War II (1939–45) the reconversion and restoration of the economies of Western Europe were accomplished primarily under the Marshall Plan, which led to the intensified export of American capital and the strengthening of US political influence. In the capitalist countries reconversion of the economy, which proved to be partial, was accompanied by militarization.

In the USSR and the other socialist countries the transition to a peacetime economy was made in conformity with a plan and, despite the colossal scale of wartime devastation, with minimal losses to the economy and in the shortest possible time.

A. A. KHANDRUEV

References in periodicals archive ?
Treasury regulations specifically exclude a reconversion to correct a failed conversion as counting toward the one-reconversion restriction during 1999.
Harry will then be free to recharacterize his Roth IRA again before October 15, 1999, and sometime later that year use his one-time reconversion, provided the couple files a joint return for 1999.
Taxpayers are restricted to one reconversion during 1999.
He became the president of the Temple Secular Society and was an atheist lecturer until his reconversion in 1863.
Gordon's reconversion was facilitated by being able to judge critically his Secularist outlook: "That standpoint was the standpoint of the mere reason, the mere logical part of man's nature, without any reference whatever to, or any acknowledge whatever of, any other part, intuitional or emotional, of the wondrous mechanism of human life.
Although his account of his reconversion was mainly a personal one, he endorsed and briefly outlined the ontological argument in it.
Perhaps the final regulations' most dramatic changes from the proposed rules are the new limits placed on reconversions to a Roth IRA.
According to the preamble, there are three major differences between the rules for pre-2000 reconversions and post-1999 reconversions:
Observation: Alternative (1) above permits reconversions after December 31 of the calendar year in which the conversion distribution is made.
One time only for reconversions occurring on or after Nov.
408A(d) (3) (A) applies only to conversions and reconversions occurring in 1998.
Any reconversions that exceed the above limits will be treated during the November 1998-December 1999 period as "excess reconversions.