Nobel Prize: The Most Prestigious Award Across the Globe

The Nobel Prize is recognized to be the most prestigious award which can be availed in the domains of physics, medicine, peace, chemistry, literature. Owing to this, it has gained high recognition and the dream award for people.

Prize Money of Nobel Prize:

The Nobel Prize is considered to be a set of annual international awards which is conferred in different categories by Swedish and Norwegian institutes which is in recognition of the cultural, academic or scientific advances. Alfred Nobel happens to be the wills of Swedish inventor who has established the prize in the year of 1895. It was in the year of 1901 when the prize in literature, Physics, chemistry, peace, medicine or physiology was awarded .

The ceremonies of prize occur annually in Stockholm of Sweden. Novel Foundation decides the sum of money of the award. Every laureate or price procures a diploma, a gold medal along with the money, As of 2017, every price receives the prize money of INR 72,693,900 or US$1,110,000.

Ceremony of Nobel Prize:

It is the Royal Swedish Academy of Sciences that confers the awards of Nobel Prize in Chemistry and Physics along with SverigesRiksbank prize in Economic sciences is imparted in the memory of Alfred Nobel. The Nobel Prize is conferred in Medicine or Physiology by the Nobel Assembly at Karolinska Institute. The Nobel Prize in Literature is known to grant the Swedish Academy. The Norwegian Nobel Committee imparts the awards of the Swedish Organization.

The Nobel Prize is not conferred in a posthumous manner. However, in case a person receives the prize and dies prior to procuring it, it is possible to present the price. Though during the 20th century, there has been a substantial increase in the average number of laureates per prize, the price is not shared between more than three individuals. However, it may so happen the Nobel Peace Prize is conferred to any organization having more than three people.

It is the Committee, comprising of five members that decide the Nobel Price. The committee has been appointed by Norwegian Parliament, the Storing. These members happen to be very independent. For instance, it was since the year of 1936, the Government officials were restricted to sit on the committee for avoiding hints.

How is the Winner Decided for the Prize

Though there are no specific formulas to procure noble prize, there are specific traits which are common to several Nobel Laureates. The prize has mostly be given to people who seek advance human knowledge or procure solutions to the issues of the world along with accomplishments that range from the discovery of Robert Koch of bacteria which is responsible for Tuberculosis to the leadership of Martin Luther King Jr of US Civil rights movement in the year of 1960.

People who develop paradigm or any major shift in thinking for a specific field are more likely to procure Nobel prize for the work.  For instance, Albert Einstein had major contributions in the field of theoretical science owing to which he was conferred Nobel prize in the subject of physics in the year of 1921.

Nobel Prize Winners in 2017

The secretary of Nobel Committee for Medicine or Physiology, Thomas Pelmann announced the Nobel Prize in Physiology or Medicine. The award was announced on 2nd October to Michael W. Young, Michael Roshbash, Jeffrey C. Hall for their amazing discovery of the molecular mechanism that controls circadian rhythm. Secretary-General of Royal Academy of Sciences, Goran K. Hansson announced the name of the Nobel Prize winner for the year of 2017 in the field of Chemistry and Physics.Barry C. Barish, Rainer Weiss, Kip S. Thorne was awarded the Nobel Prize in Physics owing to their immense contribution to LIGO detector as well as observation of gravitational waves. Richard Henderson, Joachim Frank, and Jacques Dubochet were offered Nobel Prize in Chemistry for the development of cryo-electron microscopy for determining high-resolution structure in biomolecules in solution. The Nobel Prize was announced on 3rd October. Sara Danius who is the permanent secretary of Swedish Academy was announced the Nobel Prize in Literature on 5th October. Chair of Norwegian Nobel Committee, Berit Reiss Anderson announced the Nobel Peace Prize on 6th October.

The Nobel Prize in Literature in the year 2017 has been awarded to Kazuo Ishiguro who has been successful in uncovering the abyss under the illusion sense of connection with the entire world in his novels of great emotional force. The Nobel Peace Prize for the year of 2017 was conferred to International Campaign to Abolish Nuclear Weapons (ICAN) for the work for luring attention to catastrophic humanitarian results of the use of nuclear weapons and for the groundbreaking and extensive efforts with an eye to achieving treaty-based prohibition of similar weapons.