The Controversial Sveriges Riksbank Prize in Economic Sciences: A Legacy Unrecognized by the Nobel Family
The announcement of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 is set to take place in Stockholm on Monday. Established in 1968 by Sweden's central bank to commemorate its 30th anniversary, the award is not technically a Nobel Prize as it was not mentioned in Alfred Nobel's will in 1895. The descendants of Nobel do not support the prize, as it goes against the chemist's sentiments towards economists, as revealed in his letters. The Nobel Family Society chairman, Thomas Tyden, advocates for the distinction of this award from the prizes outlined in the will.
Last year's Prize in Economic Sciences was granted to Daron Acemoglu, Simon Johnson, and James Robinson for their research on the formation of institutions and their impact on prosperity.