Word: backwardation
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...wicker basket held by one soldier attested to the exploits in the neighboring country, a country most Vietnamese consider to be much more inferior and more backward than their...
Trouble is, the plan fails to cope with the fundamental problems. The Soviet economy does not need minor rejiggering or slight changes in emphasis, but a complete overhaul. To be sure, Communism scored great accomplishments in turning backward Russia into a major industrial power in half a century, with a G.N.P. approaching $600 billion. But the development has been uneven. The Soviet command-style economy, with its rigid planning, central controls and bias against experimentation, simply no longer works effectively. Specialization demands decentralization. No single, central planning agency can fine-tune a diversified modern economy. The industrialized world has passed...
While he relishes his celebrity status, Barnes worries about this degree of power. To mitigate it, he customarily bends over backward to find something to praise even when the show is arrant flapdoodle. This time he could not summon up anything good to say about the play; nor did he have a pleasant word for Hailey's previous work, Who's Happy Now?, a hilarious Oedipal farce (TIME, Nov. 28, 1969). The reason may lie in the nature of comedy, which is the most indigenous of dramatic forms. Barnes was born and reared in England, and while...
Western businessmen may laugh, but such crocodilian cunning has allowed Houphouet to weld 60 backward tribes into one of Black Africa's most prosperous countries-and its most striking anomaly. Tanzania, Guinea and other young nations are nationalizing foreign holdings, restricting foreign investment and turning to socialism for solutions to their development problems. Houphouet has entrusted the development of the Ivory Coast's economy to Western capitalists, most of them French. While some of his neighbors expelled their former colonial masters, Houphouet, 66, a onetime member of Charles de Gaulle's cabinet, retained them as honored guests...
...Moving Backward. The Soviets have seldom lived up to their goals. During the 1966-70 plan there were shortfalls of about 10% in output of steel, electricity, gas and coal. The Soviets missed by wider margins their targets for television sets, refrigerators and wearing apparel...