The Nobel Prize
Alfred Nobel (1833-1896), the originator of the Nobel Prize, was a chemist, engineer, innovator, armaments manufacturer and the inventor of dynamite (1867). Nobel held more than 350 different patents, dynamite being the most famous.
In 1888 Alfred Nobel’s brother Ludvig died and a French newspaper erroneously published Alfred’s obituary. It condemned him for his invention of dynamite, and said to have brought about his decision to leave a better legacy after his death. The Nobel Prize is awarded for eminence in physical science, in chemistry and in medical or physiology. The fourth Prize is for literary work and the fifth, the Peace Prize, for a person or a society that renders the greatest service to the cause of international fraternity, in the suppression or reduction of standing armies, or in the establishment or furtherance of peace congresses.
In 2001, Alfred Nobel’s great-grandnephew Peter Nobel (born 1931) asked the Bank of Sweden to differentiate its award to economists given “in Alfred Nobel’s memory” from the five other awards.
The Nobel Prize is formally distributed on December 10th every year in Stockholm, by the Swedish king.