This Yearβs Nobel Prize Is Going To Change Everything...
Economics Explained
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How Did the Nobel Prize Winners Contribute to Economics?
In recent years, the royal swedish academy of sciences has been specifically targeting academic work that has direct applications in modern economies. Poul milgrim and robert wilson's contributions to oction theory are actually being put to good use as we speak. This focus on practical economic applications means that these awards are a whole lot more than some self congratulatory academic pomp fest. The nobel prize was created by alfred nobell, a swedish chemist and industrialist who was best known for stabilizing an incredibly reactive compound called nitro glycerine.
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