4 ms·

There is no Nobel prize for economists, specifically anyway. There is a Nobel Memorial Prize in Economic Sciences, but that was created in 1968 by Sweden's cent

There is no Nobel prize for economists, specifically anyway. There is a Nobel Memorial Prize in Economic Sciences, but that was created in 1968 by Sweden's central bank, and has nothing to do with Alfred Nobel other than being from Sweden and "borrowing" his name. I believe the Nobel foundation now manages that award, but there are still only 5 "real" Noble prizes.

idoh 7y ago
More accurate to say that there are five "original" ones and then one added in later. It seems that at this point it has equal standing, in that the Nobel foundation admins it, and it is presented in the same ceremony.
- ralph84 7y ago
  The Wealth of Nations was published in 1776, 57 years before Alfred Nobel was born. He was aware of the field of economics and didn't think it was worthy of a prize. Fields such as mathematics and philosophy were also around in Nobel's time and he didn't think they were worthy of a prize either. The difference is those fields aren't associated with an organization that literally prints money to buy their way in.
  - bdhess 7y ago
    > He was aware of the field of economics and didn't think it was worthy of a prize. I doubt you have evidence of this, beyond the simple fact that he didn't personally establish a sixth prize. If such evidence existed, I think it's unlikely that the Nobel Foundation would've agreed to administer the prize in the first place. That said, at this point, I'm not sure what the difference would be anyway. The Nobel prizes (including the memorial one) have become a globally admired celebration of human achievement, the personal beliefs and shortcomings of the 19th century arms dealer who established the prizes notwithstanding.
afarrell 7y ago
“Real” Nobel prizes depends on what you think is the key property of a Nobel prize. If it is “was one originally Established by Alfred Nobel”, then you are meaningfully correct. If the key properties are “Signals the same sort of contribution to human understanding. Administered by the same org as admins the other Nobel prizes. Has the same credibility.” Then you are merely technically correct.
function_seven 7y ago
The Denver Broncos aren't a real NFL team. There is a team in Colorado that goes by that name, but it was created in 1960 by the AFL, and has nothing do to with the NFL other than being an American Football team. I believe the NFL now includes that team, but there are still only 16 "real" NFL teams.
leg100 7y ago
Nobody doubts it's the weakest prize of the lot (alongside the peace prize, although you'll probably remind me that's not real either). They seem to be perennially awarded to academic staff at the university of Chicago for coming up for a new way of pricing something or interpreting the markets. Nothing earth shattering or outside the realm of orthodox economics (beyond a few exceptions such as game theory).
nabla9 7y ago
Nobel price in economics has consistently higher quality and more prestige than literary or the peace prices.

idoh 7y ago

More accurate to say that there are five "original" ones and then one added in later. It seems that at this point it has equal standing, in that the Nobel foundation admins it, and it is presented in the same ceremony.

ralph84 7y ago
The Wealth of Nations was published in 1776, 57 years before Alfred Nobel was born. He was aware of the field of economics and didn't think it was worthy of a prize. Fields such as mathematics and philosophy were also around in Nobel's time and he didn't think they were worthy of a prize either. The difference is those fields aren't associated with an organization that literally prints money to buy their way in.
- bdhess 7y ago
  > He was aware of the field of economics and didn't think it was worthy of a prize. I doubt you have evidence of this, beyond the simple fact that he didn't personally establish a sixth prize. If such evidence existed, I think it's unlikely that the Nobel Foundation would've agreed to administer the prize in the first place. That said, at this point, I'm not sure what the difference would be anyway. The Nobel prizes (including the memorial one) have become a globally admired celebration of human achievement, the personal beliefs and shortcomings of the 19th century arms dealer who established the prizes notwithstanding.

afarrell 7y ago

“Real” Nobel prizes depends on what you think is the key property of a Nobel prize. If it is “was one originally Established by Alfred Nobel”, then you are meaningfully correct. If the key properties are “Signals the same sort of contribution to human understanding. Administered by the same org as admins the other Nobel prizes. Has the same credibility.” Then you are merely technically correct.

function_seven 7y ago

The Denver Broncos aren't a real NFL team. There is a team in Colorado that goes by that name, but it was created in 1960 by the AFL, and has nothing do to with the NFL other than being an American Football team. I believe the NFL now includes that team, but there are still only 16 "real" NFL teams.

leg100 7y ago

Nobody doubts it's the weakest prize of the lot (alongside the peace prize, although you'll probably remind me that's not real either). They seem to be perennially awarded to academic staff at the university of Chicago for coming up for a new way of pricing something or interpreting the markets. Nothing earth shattering or outside the realm of orthodox economics (beyond a few exceptions such as game theory).

nabla9 7y ago

Nobel price in economics has consistently higher quality and more prestige than literary or the peace prices.