Alfred Nobel, the Swedish chemist and engineer who invented dynamite, wanted to set up prizes for outstanding work in physics, chemistry, medicine, literature and, perhaps most important of all, peace. When he died, almost all his huge 1
went into financing these five prizes. In 1968, a prize for economics was 2
by Sweden’s central bank in order to 3
the bank’s 300th anniversary.
The prizes, which can be awarded to 4
or organisations, are a tribute to those who have 5
most in their specific fields. Winning a Nobel Prize is a tremendous honour which 6
with it worldwide recognition.
The prizes are presented at ceremonies in Oslo for the Peace Prize and in Stockholm for the other prizes. At the ceremonies, the winners 7
a medal, a diploma, and cash, which varies each year depending on the income from the Nobel Foundation fund, which has responsibility for the prizes. Nowadays the 8
is normally more than a million pounds.