STOCKHOLM — The Nobel memorial prize in economics, the ultimate award in this year’s cycle, can be introduced Monday by the Royal Swedish Academy of Sciences in Stockholm.
Final yr, three researchers who study business innovation won for explaining how new merchandise and innovations promote economic growth and human welfare, whilst they go away older corporations within the mud.
The economics prize is formally often known as the Financial institution of Sweden Prize in Financial Sciences in Reminiscence of Alfred Nobel. The central financial institution established it in 1968 as a memorial to Nobel, the Nineteenth-century Swedish businessman and chemist who invented dynamite and established the 5 Nobel Prizes.
Nobel purists stress that the economics prize is technically not a Nobel Prize, however it’s at all times introduced along with the others on Dec. 10, the anniversary of Nobel’s dying in 1896.
Nobel honors had been introduced final week in medication, physics, chemistry, literature and peace.
The prize cash this yr is 12 million Swedish kronor (about $1.2 million), whether or not for a person, small group of laureates or group.
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Dazio reported from Berlin.
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AP Nobel Prizes: https://apnews.com/hub/nobel-prizes
