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The fundamental problem is that economic models - series of equations meant to describe how different parts of the economy fit together - depend on historical data. If you want to know how high unemployment is going to be six months from now, you start with how high it is today. If...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

To figure out why, psychologists at Britain's Keele University recruited 64 college students and asked them to stick their hands in a bucket of ice water and endure the pain for several minutes. One group was allowed to repeat a curse word of their choice continuously while their hands...

Author: /time Magazine | Title: Bleep! My Finger! Why Swearing Helps Ease Pain | 7/16/2009 | See Source »

It's a fair warning. As any man who wants to enjoy the favors of both a wife and a lover will tell you, it will not be a snap for Australia to stay on good terms with both China and the U.S. The global economy may have joined those...

Author: /time Magazine | Title: Mr. World: Kevin Rudd | 7/13/2009 | See Source »

If the findings bear out, they may herald a potential new treatment for an age-old condition. As psychiatric symptoms go, hair-pulling is among the earliest recorded. According to Dr. Jon Grant, a trichotillomania expert at the University of Minnesota School of Medicine and the lead author of the...

Author: /time Magazine | Title: Study: Help for Chronic Hair Pullers? | 7/12/2009 | See Source »

The regime has repeatedly charged that the recent unrest is a plot by foreign powers, particularly Britain, to orchestrate an uprising against the theocracy. On the eve of the pivotal vote, Supreme Leader Ayatullah Ali Khamenei expressed concern about a "soft" or "velvet" revolution, the term originally used to describe...

Author: /time Magazine | Title: U.S. Citizen Living in Tehran Said to Be Arrested | 7/10/2009 | See Source »

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