This isn’t to say that economics has been free of embarrassments. In 1997, the award was given to Robert Merton and Myron Scholes for their (valuable) work on options pricing. In an attempt to profit from their theoretical insights, the two men had co-founded extremely profitable Long-Term Capital Management in 1993. It blew up spectacularly just one year after they won the prize because of bad risk management.

Economics Nobel Has a Better Record Than 'Real' Ones - Bloomberg

Data from the CBO imply that an increase of just 0.2 percent in annual growth would entirely eliminate the projected long-term budget gap.

Lawrence Summers: In shutdown debate, focus on growth not deficit - The Washington Post

Like us, you're probably wondering, "Are these TVs really that much better than the one I just bought?"

The answer is yes.

Samsung KN55S9C Curved OLED TV Review - Reviewed.com Televisions

Standard & Poor’s decision to cut Spain’s credit rating to one notch above junk status is weighing on markets, but analysts see a silver lining here — it could push a reluctant Madrid into asking for a bailout and thus alleviate pressure on its borrowing costs.

Will S&P Ratings Cut Finally Push Spain Into a Bailout?

The study, carried out by a consultancy for the EU's executive, suggests that claims about large-scale "benefit tourism" in the EU are exaggerated.

BBC News - EU study on migrants rebuffs 'benefit tourism' claims

As one of hundreds of “tobacco appraisers” in China, Li Hui, a petite, pony-tailed mother, has been smoking up to 30 cigarettes a day for more than 20 years. “It’s my job, and I like it,” Li explained in a long profile in the Global Times, a Chinese state-run newspaper. “Besides, I haven’t seen anyone around me or my friends getting sick from smoking yet.”

Smoking for a living: The strange tale of Li Hui, a Chinese tobacco appraiser – Quartz

Her key point: it’s not that China is necessarily over-investing (as is frequently argued) but that the rest of EM may be under investing.

Why China may not be over-investing | FT Alphaville

In the clip, a woman receives directions on how to refill her car’s washer fluid from a Google Glass app. This isn’t the first time a wearable display has been used for such purposes (see “Faster Maintenance with Augmented Reality&rdquo, but It’s a good example of a situation where being able to see a display while having your hands free could be very valuable.

Google Glass as a Hands-Free Instruction Manual | MIT Technology Review

Ansys (ANSS), a maker of very high-end simulation software used to design planes, trains, automobiles and all manner of other things, has fed the Hyperloop specifications into a computer and come away impressed. “I don’t immediately see any red flags,” says Sandeep Sovani, the director of land transporation strategy at Ansys. “I think it is quite viable.”

Elon Musk's Hyperloop Will Work, Says Some Very Smart Software - Businessweek