The Economics Nobel Isn’t A Nobel

The “Economics Nobel” prize was established in 1968 by the Bank of Sweden. It isn’t a Nobel Prize technically, even if its winners are announced with the Nobel Prize recipients, and the honor presented at the Nobel Prize Award Ceremony:

Technically, there is no Nobel Prize in economics. Instead, there is the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. It was first awarded in 1969 and is named not after a person, but after the central bank of Sweden—the Sveriges Riksbank—which funds it. The Nobel Foundation doesn’t pay out the award or choose the winner (though the winner is chosen in accordance with the same principles used by the Nobel Foundation,) but it does list the prize on its website along with the Nobels, tracks winners the same as Nobel laureates, and even promotes the prize alongside its own. Members of the Nobel family have spoken out against the award.

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