Category:Nobel Memorial Prize in Economic Sciences

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The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel[1][2][3], is an economics prize administered by the Nobel Foundation. While it is not one of the Nobel Prizes, which were established by Alfred Nobel's will in 1895,[4] it is commonly referred to as the Nobel Prize in Economics.[5]

Controversies and criticisms

Some critics argue that the prestige of the Prize in Economics derives in part from its association with the Nobel Prizes, an association that has often been a source of controversy. Among them is the Swedish human rights lawyer Peter Nobel, a great-grandnephew of Ludvig Nobel.[6] Nobel accuses the awarding institution of misusing his family's name, and states that no member of the Nobel family has ever had the intention of establishing a prize in economics.[7] He explained that "Nobel despised people who cared more about profits than society's well-being", saying that "There is nothing to indicate that he would have wanted such a prize", and that the association with the Nobel prizes is "a PR coup by economists to improve their reputation".[6]

According to Samuel Brittan of the Financial Times, both former Swedish minister of finance, Kjell-Olof Feldt, and Swedish former minister of commerce, Gunnar Myrdal, wanted the prize abolished, saying, "Myrdal rather less graciously wanted the prize abolished because it had been given to such reactionaries as Hayek (and afterwards Milton Friedman)."[8] Relatedly, it has been noted that several members of the awarding committee have been affiliated with the Mont Pelerin Society.[9]

See also

Notes

  1. ↑ "Hart and Holmström awarded the Prize in Economic Sciences for 2017". Stockholm: Sveriges Riksbank. 10 October 2016. http://archive.riksbank.se/en/Web-archive/Published/Notices/2016/Hart-and-Holmstrom-awarded-the-Prize-in-Economic-Sciences-for-2016/index.html.
  2. ↑ "Prize in Economic Sciences". Stockholm: The Royal Swedish Academy of Sciences. https://www.kva.se/en/priser/ekonomipriset.
  3. ↑ "Beslut om titel på ekonomipriset [Resolution on the economics prize's name"] (in sv). Stockholm: Sveriges Riksbank. 6 July 2006. http://archive.riksbank.se/sv/Webbarkiv/Publicerat/Nyheter/2006/Beslut-om-titel-pa-ekonomipriset/index.html.
  4. ↑ "Not a Nobel Prize". Stockholm: The Nobel Foundation. https://www.nobelprize.org/nomination/economic-sciences/.
  5. ↑ Hird., John A. (2005). Power, Knowledge, and Politics. American governance and public policy. Georgetown University Press. p. 33. ISBN 978-1-58901-048-2. OCLC 231997210. "the Bank of Sweden Prize in Economic Science in Memory of Alfred Nobel, commonly referred to as the Nobel Prize in Economics"
  6. ↑ 6.0 6.1 "Nobel descendant slams Economics prize". thelocalsweden. 28 September 2005. http://www.thelocal.se/20050928/2173.
  7. ↑ "Alfred Nobels familie tar avstand fra økonomiprisen". Aftenposten. http://www.aftenposten.no/norge/Alfred-Nobels-familie-tar-avstand-fra-okonomiprisen-552817b.html.
  8. ↑ Brittan, Samuel (19 December 2003). "The not so noble Nobel Prize". Financial Times. http://www.samuelbrittan.co.uk/text172_p.html.
  9. ↑ Offer, Avner; Söderberg, Gabriel (2016). The Nobel Factor: The Prize in Economics, Social Democracy, and the Market Turn (1st ed.). Princeton University Press. pp. 104–105.

Subcategories

This category has the following 3 subcategories, out of 3 total.

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