Word: backwardation
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President Truman's Point Four program for developing backward nations has been discussed at high policy levels for months. But it was not till last week that two congressional committees brought the talk down to earth. From spokesmen for U.S. business, which was expected to supply the know-how and capital for the program, the committees got some plain talk on what was needed to make the program work...
Back home, meanwhile, enterprising traders made the most of the incident -and furnished economically backward Yemen a perfect illustration of the law of supply & demand. While the shooting was still going on, tireless scavengers on both sides of the embattled border had diligently collected the bullets from the bullet-riddled countryside; on the local market, the price of lead was down...
Lord Macaulay's lordly eloquence had carried the day for English against Oriental rivals. He had heaped scorn on India's backward tongues-they taught "medical doctrines which would disgrace an English farrier, astronomy which would move laughter in girls at an English boarding school, history abounding with kings 30 feet high and reigns 30,000 years long, and geography made up of seas of treacle and seas of butter . . ." He had acclaimed English as the key "to all the vast intellectual wealth which all the wisest nations of the world have created and hoarded in the course...
...Boston, Mayor James Curley, who has done time on a mail fraud rap, took a backward look at his life & hard times. "I might have taken the primrose path," he admitted righteously, "but I chose the thorny path-trying to do something for the needy, the unfortunate. Any man that takes the hard, thorny road will always be accused of being a boss and a buccaneer...
Last week Editor Wang's staff pleaded guilty again in an editorial: Ta Rung Pao had been so dull that the "comparatively backward elements" whom the Communists are seeking to convert "do not like to read the paper." To brighten things up, Editor Wang had printed "scoops" which had turned out to be untrue. Sadly the paper confessed that "as a result of the mischievous idea of news competition held by the bourgeoisie, we are led to make a mess of things . . . [But] under the correct leadership of the Communist Party of China [we shall] throughly...