History of the Nobel Prize

By Polichicks on October 14, 2007 5:41 PM | Permalink | Comments (0) | TrackBacks (0)

With all the excitement about Al Gore winning the Nobel Peace Prize, wouldn't it be nice to catch up on some history about the Nobel Prize? Below is a biographical summary of Alfred Nobel, the wealthy Scandinavian inventor and entrepreneur for whom the prize is named. The actual text of his will that established the then controversial prize follows his biography. All text and photographs were taken from the official website for the Nobel Prize.

Alfred Nobel (1833-1896) was born in Stockholm, Sweden, on October 21, 1833. His family was descended from Olof Rudbeck, the best-known technical genius in Sweden in the 17th century, an era in which Sweden was a great power in northern Europe. Nobel was fluent in several languages, and wrote poetry and drama. Nobel was also very interested in social and peace-related issues, and held views that were considered radical during his time.

Nobel received his first patent at age 30. Ten years later, he would establish factories in several countries and was the first person in the world to create an international holding company. The inventor of dynamite held 355 patents in several countries. As an entrepreneur, Nobel was unbeatable in his time.

On November 27, 1895, Alfred Nobel signed his last will in Paris. When it was opened and read after his death, the will caused a lot of controversy both in Sweden and internationally, as Nobel had left much of his wealth for the establishment of a prize! His family opposed the establishment of the Nobel Prize, and the prize awarders he named refused to do what he had requested in his will. It was five years before the first Nobel Prize could be awarded in 1901.

Excerpt from the Will of Alfred Nobel

"The whole of my remaining realizable estate shall be dealt with in the following way: the capital, invested in safe securities by my executors, shall constitute a fund, the interest on which shall be annually distributed in the form of prizes to those who, during the preceding year, shall have conferred the greatest benefit on mankind. The said interest shall be divided into five equal parts, which shall be apportioned as follows: one part to the person who shall have made the most important discovery or invention within the field of physics; one part to the person who shall have made the most important chemical discovery or improvement; one part to the person who shall have made the most important discovery within the domain of physiology or medicine; one part to the person who shall have produced in the field of literature the most outstanding work in an ideal direction; and one part to the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses. The prizes for physics and chemistry shall be awarded by the Swedish Academy of Sciences; that for physiology or medical works by the Karolinska Institute in Stockholm; that for literature by the Academy in Stockholm, and that for champions of peace by a committee of five persons to be elected by the Norwegian Storting. It is my express wish that in awarding the prizes no consideration be given to the nationality of the candidates, but that the most worthy shall receive the prize, whether he be Scandinavian or not."