Nobel Memorial Prize In Economic Sciences
Categories: Econ
The Nobel Prize in Economics, or the Nobel Memorial Prize in Economic Sciences, or...The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, in its full glory, is considered the greatest award for economic prowess out there.
The Nobel Prize in Economics has been going since 1968, thanks to the Swedes (well, the Royal Swedish Academy of Sciences). Five elected members solicit academics all over the world, asking for nominations, before they ultimately choose a winner. Then comes the fun part: trying to locate them in the world with a phone call to let them know they’ve won.
Technically, the Nobel Prize in Economics isn’t a Nobel Prize, since it’s not one of the OG Nobel Prizes, defined by Mr. Alfred Nobel himself in his 1895 will. Actually, his great-grandnephew is super not-down with this prize, saying Alfred Nobel was about society’s well-being, not profits. But it’s okay...just don’t tell anyone, particularly the winners. Not that they’d even care...if they accept the prize, they get about a million dollars.