What Are Nobel Prizes And Who Awards Them?
This article provides an overview of the Nobel Prize's history, its founder Alfred Nobel, and the various institutions responsible for selecting winners. It highlights the prize's evolution from its inception in 1901 to its current status as a prestigious global award.
Why it matters
Understanding the origins and governance of the Nobel Prize provides context for its continued relevance and the prestige associated with the awards.
The Nobel prizes are set to be announced this week, starting with the award for physiology or medicine on Monday and ending with the unveiling of the winners in economics on October 12.The awards, which are also handed out for outstanding achievements in physics, chemistry, literature and peace, come with a recently increased prize amount of 12 million Swedish crowns ($1.21 million) and bestow instant fame on the recipients that is unthinkable for the vast majority of scientists.WHO WAS ALFRED NOBEL?The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel, who in his will dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".Best known as the inventor of dynamite, Nobel was also a businessman, poet and linguist who could speak Russian, French, English and German by the age of…
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