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There is no Nobel prize in economics. > The five real Nobel Prizes—physics, chemistry, literature, peace, and medicine/physiology—were set up in the will left
by spodek 7y ago
There is no Nobel prize in economics.
> The five real Nobel Prizes—physics, chemistry, literature, peace, and medicine/physiology—were set up in the will left by the dynamite magnate when he died in 1895. The economics prize is a bit different. It was created by Sweden’s Central Bank in 1969, nearly 75 years later. The award’s real name is the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.” It was not established by Nobel, but supposedly in memory of Nobel. It’s a ruse and a PR trick, and I mean that literally. And it was done completely against the wishes of the Nobel family.
> “The Economics Prize has nestled itself in and is awarded as if it were a Nobel Prize. But it’s a PR coup by economists to improve their reputation,” Nobel’s great great nephew Peter Nobel told AFP in 2005, adding that “It’s most often awarded to stock market speculators …. There is nothing to indicate that [Alfred Nobel] would have wanted such a prize.”
https://www.alternet.org/2012/10/there-no-nobel-prize-economics https://www.alternet.org/2012/10/there-no-nobel-prize-econom...
- FussyZeus 7y agoOf course the Nobel prize for economics is a ruse and at least semi-fraudulent. That's the least surprising thing I think I've ever learned.
- ekianjo 7y ago> It was created by Sweden’s Central Bank in 1969, Well that will probably rule out any economist opposed to central banking systems.
- MagnumOpus 7y agoExcept it won't - for the same reason why Nobel donating the prizes for the other subjects doesn't rule out opponents of dynamite or high-explosives for the Peace prize. (I.e. the Royal Academy in Sweden gives out both prizes, the Nobel family and the Rijksbank are not involved.)
- baddox 7y agoHuh? Wasn’t Nobel opposed to (many uses of) high explosives? Wasn’t that the point?
- ivnubinas 7y agoMilton Friedman won a Nobel prize. He didn't like central banks at all.
- tzs 7y ago> There is no Nobel prize in economics The Nobel Foundation [1] disagrees. That bank donated the money to establish the prize, but it is awarded by the Royal Swedish Academy of Sciences, the same organization that awards the physics and chemistry prizes, using the the same procedures. [1] https://www.nobelprize.org/ https://www.nobelprize.org/