This year’s Nobel Prize in Economics goes to three US scientists. Former central bank governor Ben Bernanke, Douglas W. Diamond and Philip H. Dybvig will be honored, the Royal Swedish Academy of Sciences in Stockholm announced. You would be awarded “for research on banks and financial crises”.
The Nobel Prize in economics has only been awarded since 1969 and is endowed with ten million crowns (about 914,000 euros). It is donated by the Swedish central bank. With the award, it takes account of the growing importance of economic issues.
Last year, the US-based economists David Card, Joshua Angrist and Guido Imbens were honored with the prestigious award.
The Nobel Prize winners in the categories of medicine, physics, chemistry, literature and peace were announced last week. All of the Nobel Prizes this year are again endowed with ten million Swedish crowns – that’s currently the equivalent of almost 920,000 euros.
The Nobel Prize in Economic Sciences is the only one of the Nobel Prizes that does not go back to the will of Alfred Nobel (1833-1896), inventor of the dynamite and founder of the prize. It has been donated by the Swedish Reichsbank since the late 1960s and is therefore not, strictly speaking, one of the classic Nobel Prizes. Nevertheless, like the other Nobel prizes, it will be ceremoniously presented on the anniversary of Nobel’s death, December 10th.