Word: backwardation
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...Traveling in India and China, I cannot help but feel that some life is cheap there. The agrarian poor do not benefit from investment, and the backward castes are left behind. It is nauseating to think how much genius lies fallow between the Indus and Yellow Rivers. It is even more revolting to consider how many simply charitable and industrious citizens and workers are outside the system...
...power until 2049, when, at 95, he would be older than his inspiration, Fidel Castro, is today. We’ll see if Venezuela’s oil wealth can last until then. For the moment, it’s clear that this new referendum is a step backward for Venezuelan democracy...
...city's peculiar resistance to change: "What's wrong with us? he thought. Are we proud of being backward and insular? When New Orleans was awash in oil money, it had refused to invest in the harbor, which was now being superseded by such pikers as Mobile. It had failed, when it had the chance, to correct a school system that produced students who could barely speak English or do sums. When northern companies fled unions and taxes for the Sunbelt, and cities like Memphis and Dallas were doing all they could to attract them, New Orleans turned a cold...
...trial began in July, hundreds of newspaper reporters descended on the town to cover the circus-like event, which featured fully clothed chimpanzees performing on the courthouse lawn and a fair bit of ridicule from newspaper columnist H.L. Mencken, who declared that residents were little more than backward "yokels...
While Gaylor insists that Dayton locals have gotten more and more backward over the years, Davis says that's not so. "We have a public school system that's accredited by the state," he says with a smirk. "Our kids seem to score appropriately on state tests. We even have some people with college degrees. So the H.L. Mencken attitude is tiresome. It's as ignorant as we're proposed...