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- W2149113530 abstract "WHEN YOUR CHAIRMAN first invited me to speak on the theme of what convertibility means to business, I could not but immediately concur in feeling that the subject so worded represented a challenge. The phrasing seemed to call not just for the usual set statement on the glories, virtues, and tribulations of convertibility or for a technical elaboration of the inner mechanics, but for a broader treatment which would take into account the position of American business vis-a-vis convertibility. Granted that convertibility is a vital and timely topic, it is doubtful whether there is anything fresh or new to be said of major consequence about the requirements and the implications of convertibility per se. On the other hand, I believe that there is a great deal to be said publicly concerning the role and opinions of business, here and abroad, with respect to both policies and actions. There is a definite gap to be filled; there are, unhappily, misunderstandings in both directions to be corrected. On reflection it sometimes seems as though we had been discussing the prospects and prerequisites of convertibility from the beginning of time, and-what is more-in repeating circles. The imminence of convertibility has been heralded so often that the average man certainly may be excused if he has become a bit cynical about the whole idea. Actually, convertibility alone hardly is worth the inordinate amount of attention it has received. But convertibility has become something more. It has become in a sense not only a shining symbol, but also a convenient peg on which to hang views and recommendations regarding a variety of truly fundamental matters. The inevitable result has been to confuse cause and effect, proposals and decisions, political choices and economic forces. Small wonder if the businessman and the lay public are perplexed as they try to fathom the merits of conflicting arguments and assertions." @default.
- W2149113530 created "2016-06-24" @default.
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- W2149113530 date "1955-05-01" @default.
- W2149113530 modified "2023-09-25" @default.
- W2149113530 title "CONVERTIBILITY AND THE BUSINESS COMMUNITY" @default.
- W2149113530 doi "https://doi.org/10.1111/j.1540-6261.1955.tb01263.x" @default.
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