{"id":1426,"date":"2020-10-07T04:47:00","date_gmt":"2020-10-06T19:17:00","guid":{"rendered":"https:\/\/2dpoint.net\/?p=1426"},"modified":"2020-10-07T05:25:03","modified_gmt":"2020-10-06T19:55:03","slug":"why-is-the-nobel-prize-a-big-deal","status":"publish","type":"post","link":"https:\/\/2dpoint.net\/why-is-the-nobel-prize-a-big-deal\/","title":{"rendered":"Why is the Nobel Prize a big deal?"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

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1. Reason 1: <\/b>The speculation on its origin.<\/li>\n
2. Legend has it that in 1888, a French newspaper mistakenly wrote that Alfred Nobel, inventor of dynamite, had died.<\/li>\n
3. And it explained the event in a defamatory language: “Dr. Alfred Nobel, who became rich by finding ways to kill more people faster than ever before, died yesterday.\u201d<\/li>\n
4. Alfred Nobel didn\u2019t like that and decided to use his massive fortune to award those who did most to change the world for the better.<\/li>\n
5. The authenticity of this story is not verified but this is an anecdote popular enough to generate great interest.<\/li>\n
6. Reason 2: <\/b>Huge cash prize.<\/li>\n
7. Before the launch of the Nobel prize, scientists were awarded titles & medals; so, the cash prize of about US $1million that accompanies a gold medal has been a huge draw.<\/li>\n
8. As per Nobel\u2019s will, the equivalent of US$265 million was used to create the Nobel Foundation; this amount, invested in financial instruments with good returns, funds the prize money.<\/li>\n
9. Reason 3: <\/b>It is over 100 years old; the prizes in Chemistry, Literature, Peace, Physics, and Physiology or Medicine were first awarded in 1901.<\/li>\n
10. Reason 4: <\/b>Difficult selection.<\/li>\n
11. <\/b>In September of each year, the Nobel Committee {tooltip}sends out thousands of nomination forms{end-text}Regarding the Peace Prize, nominations can come from a government, a member of the national assembly, an international court, former Peace Prize laureates, and current or former members of the Norwegian Nobel Committee<\/b>.{end-tooltip} to academies, university professors, scientists, previous Nobel Laureates, etc.<\/li>\n
12. <\/b>These individuals or institutions nominate prominent people (no one can nominate self) under the 5 categories.<\/li>\n
13. <\/b>Completed forms received by 31st Jan of the year of the award are evaluated and a report is made for only about 300 potential laureates, whose names are kept secret for 50 years from the year of the award.<\/li>\n
14. <\/b>The report is then shared with the 4 institutions<\/span><\/a> (one for physics & chemistry, one for literature, one for physiology, and a committee for peace prize) that were designated by Alfred Nobel in his will.<\/li>\n
15. <\/b>The institutions choose the laureate or laureates (max 3 in each field, except for the peace prize that can be awarded to an organization of more than 3 people) by a majority vote and announce the names in October.<\/li>\n
16. The awards ceremony is held on 10th December, the anniversary of Alfred Nobel’s death.<\/li>\n<\/ol>\n
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