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Alfred Nobel

What would Alfred Nobel say about prize for finance?

STOCKHOLM: The Nobel prize in economics, to be announced on Monday, has increasingly honoured research in the field of finance -- a subject which, observers note, is far from founder Alfred Nobel's philanthropic ideals. The economics prize has always been set apart from the other Nobel awards, and the subject of much controversy: unlike the other awards, which were created in Nobel's 1895 will, the "Prize in Economic Sciences in Memory of Alfred Nobel" was devised by the Swedish central bank in 1968 to mark its…

Alfred Nobel used dynamite fortune to create prizes

STOCKHOLM: Swedish inventor and scholar Alfred Nobel, who made a vast fortune from his invention of dynamite in 1866, ordered the creation of the famous Nobel prizes in his will. His 1895 testament stipulated his fortune was to be placed in a fund destined to honour "those who, during the preceding year, shall have conferred the greatest benefit on mankind". He died a year later in San Remo, Italy. Nobel had decreed the bulk of his estate should be invested in "safe securities" and, as a result, some 31.5 million Swedish…