Word: switch
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Dates: during 1960-1969
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Some two years ago, Kharkov Professor of Economics Evsei Liberman startled the Soviet establishment with a Pravda piece urging a switch from rigid, centralized Marxist planning to Western-style profit guidelines for factories. As Liberman saw it, factories would produce only what retail stores could sell. The proposal was more pre-revolutionary than revolutionary, and it touched off a storm of protest from orthodox Marxists...
...unveiling the 1965 Soviet budget last month, Premier Aleksei Kosygin-himself a savvy economist-announced that by the end of the year one-third of Russia's consumer-goods factories were to switch to the Liberman system. Then, three weeks ago, Moscow disclosed an "area" trial of Libermanism in Lvov where, significantly, not only the town's consumer industries but also its heavy industries, including a coal mine, were to go on a supply-and-demand basis...
...addition, 76 textile mills, 20 leather factories and a number of other suppliers of raw materials will switch to producing to the demand of the converted consumer-goods factories. Though Liberman is not likely to replace Lenin in the hierarchy of Communist saints, and though both the professor and Moscow protest too much that Libermanism is not capitalism, Russia is clearly looking backward in its most important economic experiment in several decades...
Wellesley College will switch to a trimester system next fall...
...dwindling demand for mortgage loans on new housing, which soak up more money every year than any other form of investment. Mortgage costs are falling too. New home mortgages in November carried an average interest of 5.75% v. 5.82% a year earlier. While banks can and will switch part of the new flood of savings into other kinds of loans-some of them riskier than usual-S. & L.s are far more locked into the mortgage field. Says Eugene M. Mortlock. president of Manhattan's First Federal Savings & Loan: "We can't invest any more money than we have...