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Nobel Prize
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The Nobel Prize was and is the first international award given every year (since 1901) for achievements in physics, chemistry, medicine, literature and peace - see the links below. The prize consists of a medal, a personal diploma, and a cash amount. In 1968, the Bank of Sweden (Sveriges Riksbank) instituted the "Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel", and it has since been awarded by the Royal Swedish Academy of Sciences, Stockholm.
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Founded one hundred years ago by the inventor of dynamite, the Nobel Prize is the world's most celebrated and controversial honor. It grants its winners instant celebrity and acclaim for "service to mankind," despite accusations that it is too trendy, arbitrary, and narrow-minded. It is - of course - the famous international award given yearly since 1901 for achievements in physics, chemistry, medicine, literature and peace. The prize consists of a medal, a personal diploma, and a prize amount. In 1968, the Sveriges Riksbank (Bank of Sweden) instituted the Prize in Economic Sciences in memory of Alfred Nobel, founder of the Nobel Prize.
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The awarding of Nobel Prizes under this statute has an interesting history. The Swedish poet Karlfeldt had been nominated for the Nobel Prize in Literature in the prescribed way but had died while his candidature was under consideration. Although he received the Prize, there were special circumstances. Karlfeldt had already been chosen as a laureate in 1919 but, being an official of the Swedish Royal Academy of Sciences, the awarding body, he felt that he ought not accept the honour. The Nobel Foundation, in its official volume on Nobel and the Nobel Prize, comments:
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The Nobel Prize (pronounced no-BELL) is awarded annually to people who have done outstanding research, invented groundbreaking techniques or equipment, or made outstanding contributions to society. It is generally regarded as the supreme commendation in the world today. The prizes were instituted by the final will of Alfred Nobel, a Swedish industrialist, and the inventor of dynamite. He signed his will at the Swedish-Norwegian Club in Paris on November 27, 1895. He was shocked to see how his invention was used for destructive purposes and wanted the prizes to be awarded to those who served mankind well.
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The Nobel Prize medals in Physics, Chemistry, Physiology or Medicine and Literature are identical on the face: it shows the image of Alfred Nobel and the years of his birth and death (1833-1896). Nobel's portrait ... appears on the Nobel Peace Prize Medal and the Medal for the Prize in Economics, but with a slightly different design. The image on the reverse varies according to the institution awarding the prize. All medals made before 1980 were struck in 23 carat gold. Today, they are made from 18 carat green gold plated with 24 carat gold.[2][13]
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The Nobel Prize in Economics is actually called The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel who died in 1896. In his will Alfred Nobel left most of his money to create The Nobel Prizes. The prizes are awarded each year to the person, or persons, who has made the greatest contribution to their field. The fields Alfred Nobel selected for the prizes were Literature, Peace, Chemistry, Physics and Physiology or Medicine. However, he did not create a Nobel Prize for Economics.
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Nobel Prize