Previous iterations of the targeting system helped shooters increase their chance of hitting their mark by a factor of four, but suffered from short battery life, range finder accuracy errors and overheating problems.

ENGADGET: DARPA calls on Cubic Corporation to develop frighteningly accurate One Shot XG sniper rifle

Michael Spence, another Nobel prize-winning economist, in a recent article in Foreign Affairs agrees that technology is hitting jobs in America and other rich countries, but argues that globalisation is the more potent factor.

ECONOMIST: The great mismatch