Nobel Prize in Economics: How'd They Create It?

A recent thread about Paul Krugman winning the Nobel Prize in economics (and someone’s rejoinder that it’s not really a Nobel Prize) reminded me of something I’ve always wondered: How was the Swedish Central Bank able to create the “Nobel Memorial Prize in Economic Sciences”? Did they have to get permission from the Nobel family? From the Royal Swedish Academy of Sciences, who hand out the other Nobels in science? If I had enough money could I endow a “Nobel Memorial Prize” in whatever field I desired? These questions weren’t addressed in the Wikipedia article on the Nobel Prize in Economics.

Anyone can create a Nobel memorial prize in whatever they like.

If they want sycophantic fucks from the same organisation that awards the real Nobel prizes to endorse it and permit it to be partly recognised then they will need to resort to bribery and political pressure.

Er, allegedly :rolleyes:

And no, the Nobel family are not impressed.

The FAQ on the website of the Nobel Foundation has this to say on adding additional prizes:

Even crediting such unsourced gossip, those would be the descendants of the same Nobel relatives who, umm, tried to stop any prizes being established in his name in the first place?

Nobel had no immediate family by his death, but his nephews and cousins all initially wanted the will declared void and the whole prize idea abandoned, believing that they were entitled to the money instead. His executors had to settle with them for substantial sums - in what might even be described as having “to resort to bribery and political pressure” - to avoid getting bogged down in lengthy court cases.


Pimm’s o’ clock, a response of this kind amounts to opinion and is not particularly useful in GQ. Please refrain from such remarks in the future.

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