Many of the tail risks that concerned us in the last edition have not come to pass, in particular in the United States, which did not fall off the "fiscal cliff"; in Europe, where the breakup of the euro zone was avoided and where sovereign bond differentials have drastically narrowed; and in China, where fears of a hard landing have receded for the time being. ... It influences investment decisions and the organization of production and plays a key role in the ways in which societies distribute the benefits and bear the costs of development strategies and policies. ... Government at...

• Word Count: 4162
• Approx Pages: 17
• Has Bibliography
• Grade Level: Graduate

Similarly, the Indians were seen only as sources of trade, and as useful allies during times of war with other Europeans. ... Slaves were a free source of labor and allowed the white farmers to increase their agricultural production with very little corresponding increase in overhead costs. ... Likewise, rich plantation owners who leeched off the labor of their slaves came to dominate the southern colonies, with poorer farmers who could not afford slaves forced out of the commercial agriculture exchange. ... Economic opportunities for many were increasingly found in the undeveloped, peripheral...

• Word Count: 2312
• Approx Pages: 9
• Grade Level: Graduate