| Kippreport.com

Business of… Awards

October 17, 2010 2:20 by Samuel Potter

Kipp’s importance rating: 9/10

The Nobel Prizes were established in 1895 by the will of Alfred Nobel, the inventor of dynamite. The first prizes, awarded in the fields of Physics, Chemistry, Physiology or Medicine, Literature and Peace were awarded in 1901. They are annually bestowed by Scandinavian committees, with each winner receiving a gold medal, a diploma and a sum of money.

Nowadays, the prizes are so coveted they stoke incredible passions in just about everyone you speak to. They have also been accused of being too political, thanks to a number of high profile recipients. Remember when Barack Obama, President of a country then embroiled in two armed conflicts, received the Peace Prize?

This month the awards are the centre of attention after naming a Chinese pro-democracy activist as the peace prize winner. China is furious, but most in the democratic world have welcomed the decision. So yes, sometimes they are controversial, but that could be because they’re the most important awards on the planet.

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