Nobel Prize for Economics - Two American economists William Nordhaus and Paul Romer were announced this year's Nobel Prize in Economics. The Stockholm-based Swedish Academy of Sciences, announced on October 8, 2018, to award Nobel Prize for economics.
This award will be given to William Nordhaus to "Collect Climate Change in Long-Term Comprehensive Economic Analysis" while Paul Romer (Pal Rumor) is honored with the award 'to do the work of one's technological innovation in the long term socio-economic analysis'. Will be done . It is notable that the Nobel Prize in Economics is slightly different from the rest of the awards, because it was not composed by Alfred Nobel. Sweden's Central Bank introduced it in 1969. The winner is also elected by Nobel Committee every year.
This time the Nobel Committee has decided not to award Nobel Prize for literature. This is the first time in the past 70 years that the Nobel Prize for literature will not be given. Significantly, the French citizen Cain-Claude Arnotault, who is considered to be the biggest face of cultural activities in Sweden, is surrounded by charges of sexual assault and financial crime. Due to which the image of the Academy was greatly damaged.
All the Nobel Prizes are awarded in Stockholm, Sweden except the Nobel Peace Prize. While the Nobel Peace Prize is awarded in Oslo, Norway.
When Alfred Nobel was alive then Norway and Sweden were part of the same empire until 1905. Nobel Prize winners are announced every year in the beginning of the month of October. About two months later, on December 10, the award is given to him by the King of Sweden. Under the prize money, a Nobel diploma card, 1 medal and 9 million kronor's money is provided to the winners.
