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 ?
To assert that their reconversion was a regression to the faith of their childhood does not add to our knowledge, but rather merely restates the definition of a reconvert in a pejorative way.
He then reconverts the same IRA money to a Roth in 2000.
However, he and his wife were impressed by the ' ghar wapsi' campaign of VHP and they decided to reconvert to Hinduism.
Shah's remarks assume significance in the context of a controversy triggered by Hindu Jagran Samiti, an RSS outfit which organised a 'ghar vapsi' programme in Agra to reconvert Muslims back to Hinduism.
The European Parliament has called for complementary aid measures to help former industrialised regions find new ways to develop and to reconvert unused sites.
Salafis also have accused the police of collaborating with the church by handing Shehata over to Church authorities to reconvert her.
Finally, companies reconvert those data into various formats that enable investors and financial analysts to scrutinize key performance indicators and other criteria.
408A-5, Q&A-9, an IRA owner who converts an amount from a traditional IRA to a Roth IRA during any tax year and then transfers that amount back to a traditional IRA via a recharacterization cannot reconvert that amount to a Roth IRA before the later of the (1) tax year following the tax year in which he or she converted the amount to a Roth IRA or (2) end of the 30-day period beginning on the day on which the IRA owner recharacterizes the contribution from the Roth IRA back to the traditional IRA.
Metabolic processes continually derive homocysteine by converting another amino acid, methionine, and also reconvert homocysteine into methionine.
The ambitious plan to reconvert England seems doomed from start to finish.
IRS recently released Notice 98-50 clarifying whether a taxpayer who has converted an IRA to a Roth IRA may not only transfer the amount back to a traditional IRA in a re-characterization, but also subsequently reconvert that amount from the traditional IRA to a Roth IRA.
It's all new material for the most part and we have to reconvert people.