Tuesday, August 25, 2009

Nobel Prizes (*)

The whole of my remaining realizable estate shall be dealt with in the following way:
"The capital shall be invested by my executors in safe securities and 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 of an idealistic tendency; and one part to the person who shall have done the most or the best work for fraternity among 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 physiological or medical works by 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 expressed wish that in awarding the prizes no consideration whatever shall be given to the nationality of the candidates, so that the most worthy shall receive the prize, whether he be Scandinavian or not."

This was the will of Alfred Nobel when he established the Nobel Prize. Some 50 years later, Sweden’s Central Bank also started giving away Nobel Prizes in Economics in the memory of Alfred Nobel.
The original will indicates some very fascinating points:
As he refers that prizes should be nationality independent, he stood for world peace and didn’t much support patriotism and the boundaries that exist on this earth. This fact is well confirmed by his Nobel Prize for Peace, where he has made the request for abolition of armies and rather to develop fraternity among the nations.
He valued pure arts above all other things and emphasized ‘greatest benefit on mankind’. Literature, physics, medicine and chemistry’s prizes demonstrate this fact. Though the absence of award of mathematics is controversial, but one of the most famous rumors speaks that Nobel’s wife fled with a mathematician.
But unfortunately using the name of Nobel, another prize for Economics was introduced. It for sure, corrupted the memory of Alfred Nobel and made him the least glad if he were alive. As the nature, of the prizes indicate- he stands for pure arts and peace, then where does economics fit in.
Economics is the field which has corrupted the minds of the new era and has restricted their vision beyond money, away from pure sciences. Money has never been a pure art; it has been the root of all evils instead. Nor does money help in peace; it rather helps all anti-social activities. Though he tried to distance money from all these prizes (forget the fact that the prize involves money- even pure artists have to be valued at par with the society which is a slave of money), it was instilled with the name of his very own memory. What an injustice.
So today though the prizes have high recognition none wills to understand the aim with which he created them- to establish a New World Order which valued pure arts and sciences more than money and wars, but money has itself now entered it’s realms. Should this be changed? No, let it be as this shall risk the loss of peace, for the throngs who shall complain of ‘having sentiments hurt’ and reply by demonstrations and riots.


HacKitT said...


"Economics is the field which has corrupted the minds of the new era and has restricted their vision beyond money, away from pure sciences."

U cannot use that particular statement.....

Economics by itself is not corrupt or anything....
It is the human mind that works in the corrupt manner...
Like you can take Physics, the processes of fission/fusion are not good or bad by themselves... but the way man has put use to those speaks a lot....

pgm said...

Bhatta, what do you KNOW of economics? Are you trying to propagate your ideology of 'money is bad' or of 'economics is bad' here? It seems that this article is related to the latter, simply because 'economics is money' according to you?
Studying/RESEARCHING economics isn't necessarily related to MINTING MONEY with a lack of ETHICS! Those who get the Prize woulda done it because of the PURE ART in ECONOMICS, which according to you however, is "How to screw people to increase my wealth."

What do you KNOW of economics?
[Hell, what do I know of it, even!]

Piyush said...

Absence of a monetory system leads to a far higher level of anti social activties.-plunder conquer loot. History is witness.

Siddharth Bhattacharya said...

@ Piyush:
I am taken aback if your information is correct. I would love if you sight any example from history where barter caused much tensions. Nowadays, I believe most of the evils are all because of money.
@ HackitT:
Agreed. It is the study of optimization, of how best to value every resource, how to take the best out of everyone and everything. I think that assigning a monetary value to every thing or person automatically corrupts many minds, and obstructs to see the beauty that lies beneath.
@ pgm:
What I knew of Economics, I put up in replying to Tulsyan. Yeah, John Nash was obviously admirable the way in which he dedicated his life with mathematical researches etc. to establish his famous Equilibrium. But I may agree as Tulysan said, it is the way we perceive it that corrupts, and I believe of all the fields economics fits the equation most comfortably.

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