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| Sunday, 27 March 2005 |
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Junior Observer |
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News Business Features
Editorial
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Nobel Prizes : Awards of honour You may have heard about the Nobel Prizes and wondered about their significance. Nobel Prizes are given in six different categories each year to people around the world who have excelled in these areas, and also contributed significantly to the development of the field in particular, and the world in general.
Winning a Nobel Prize is a life-changing honour. Whether the laureate is an internationally known figure or a scientist the award brings with it worldwide recognition that highlights one's life work and provides the funds to continue and further the mission. And the great personality behind these grand international awards is none other than Alfred B. Nobel (1833-1896), the Swedish chemist and engineer who invented dynamite. Nobel left nine million US dollars in his will to establish the Nobel Prizes, which are awarded annually, without regard to nationality, in six areas (peace, literature, physics,chemistry, physiology or medicine, and economic science) "to those who, during the preceding year, shall have conferred the greatest benefit on mankind."
At first glance, it seems odd that the inventor of a powerful explosive would endow a group of awards that includes a peace prize. But Nobel was an industrialist with a conscience. He is credited with creating a controllable combustible (able to catch fire and burn easily ) that made blasting rock and the construction of canals and tunnels a relatively safe process. Family members were shocked when they learned that Nobel had directed that his fortune be used to establish the Nobel Prizes. They contested his will, but his final wishes were executed and the first awards were distributed in 1901, on the fifth anniversary of his death.
The prize in economics, however, was established in 1968 by Riksbank, the Swedish bank, in honour of its 300th anniversary. Stockholm's Royal Swedish Academy of Sciences administers the award in physics and chemistry, the Royal Caroline Medical Institute awards the prize in physiology or medicine, and the Swedish Academy oversees the prize in literature. The Norwegian Storting, or Parliament, awards the peace prize. Nobel Prize for Literature The Nobel Prize for Literature, one of the six international awards administered by the Nobel Foundation, honours outstanding achievement in letters. The estate of Alfred Bernhard Nobel funds the awards. Nobel Prize in Physics Many of the features that highlight our quest to understand our fascinating world and the universe are reflected in the Nobel Prizes in Physics. The first prize in 1901 was awarded to Wilhelm C. Roentgen, for his discovery of X-rays. In more recent years, the prize has been awarded for discoveries and achievements in communication technology, cosmic radiation, superfluidity, and the structure of matter, to cite just a few examples. Nobel Prize in Chemistry The Nobel Prizes in Chemistry reflect the discoveries and achievements that have resulted from investigations of matter and the processes of life during more than 100 years. Starting with the 1901 prize to Jacobus H. Van't, these collective accomplishments have not only increased our understanding of chemical processes and their molecular basis, but also lie behind much of the technological advancements we enjoy today. Nobel Prize in Physiology or Medicine In 1901, Emil von Behring was awarded the first Nobel Prize in Physiology or Medicine for his work on serum therapy, which opened a new road in medical science and helped save hundreds of thousands of lives. The prize has subsequently been awarded to a broad field including immunology, genetics, neurobiology, diagnostics and drug development, as mankind continues to struggle against disease and death. Nobel Peace Prize The ways and means to achieve peace are as different as the individuals and organizations rewarded with the Nobel Peace Prize. Henry Dunant, founder of the Red Cross, shared the first prize in 1901 with Fredric Passy, leading international pacifist of the time. Aside from humanitarian work and peace movements, the prize has been awarded to a wide field of work including advocacy of human rights, mediation of international conflicts and arms control and disarmament. Nobel Prize in Economics The Bank of Sweden (Sveriges Riksbank) Prize in Economic Sciences in Memory of Alfred Nobel was first awarded to Ragnar Frisch and Jan Tinbergen in 1969 for their development and application of dynamic models in the analysis of economic processes. The prize has since been awarded to works ranging from methodologies and theories used in studying the efficient use of economic and financial resources, to macroeconomic performance and economic policy, development economics, international trade and the role of information. Process of selection The process of selecting a winner of the Economics Prize starts in September, about a year before the prize announcement. At this time, the prize awarder, the Royal Swedish Academy of Sciences, sends out letters to individuals and organizations qualified to nominate candidates. The nominations reach the Economics Prize Selection Committee of the Academy between September and February. About 250 nominations are submitted, covering a little more than a hundred nominees. Selection: The five to eight members of the Prize Committee comissions expert studies of the most prominent candidates, sometimes by Swedish experts but usually by foreign experts. The Prize Committee presents its award proposal to the Academy of Sciences in the form of a report, with an extensive survey of the main candidates who are considered for a prize. In the beginning of October, a decision is taken by the Academy of Sciences through a vote. This decision is final and without a right to appeal. The Academy can choose one, two, or three candidates. After the vote, the prize winners are contacted and a press conference is held. Information about the nominations, investigations, and opinions concerning the award is kept secret for fifty years. Award Ceremony and Prize Lectures In December, the prize winners are invited to Stockholm where they take part in the festivities and receive their medal, personal diploma, and a monetary award. In return, they give a lecture. Prize-Awarding Institution The Royal Swedish Academy of Sciences 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. The Nobel Committee at the Academy is responsible for the selection of
candidates among the nominees (see Nomination and Selection of the Nobel
Laureates). When the committees have made their selection among the
nominated candidates and presented their recommendation to the Academy, a
vote is taken for the final choice of Laureates. The Academy's decisions are
announced immediately after the vote in mid-October each year. |
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