samzenpus from the economics-of-the-prize dept.
Snirt writes "The Nobel Committee has chosen to lower this year's Nobel prize winnings by two million kronor ($283,030) due to turbulence in the current economic climate.
The prize now stands at 8 million kronor, down from the 10 million of 2011.
'The reason behind this
decision is that the financial
markets are really unstable and there are reasons to suspect that this turbulence will continue for a while still,' said Lars Heikensten, head of the Nobel Committee, to the TT
news agency. 'Long term, we aim to raise the figure, even though we think that the Nobel Prize's value should lie in the prize
itself and not the prize money,' he said. While Heikensten admits that it was a 'tough decision' to cut the prize money, he told the news agency that it's not the first time the prize sum has been altered, adding that it has been lowered and raised several times over the past few years."
"Every morning, I get up and look through the 'Forbes' list of the
richest people in America. If I'm not there, I go to work"
-- Robert Orben