Sweden to announce Nobel economics prize winner today

The economics prize announcement marks the culmination of the prestigious Nobel awards programme, which began last week with announcements in medicine, physics, chemistry, literature, and peace. All winners will be formally presented with their awards on December 10, the anniversary of Alfred Nobel's death in 1896.

Last year's economics prize was awarded to three researchers who advanced understanding of how business innovation drives economic growth and human welfare. Their work examined the paradox of how new products and inventions, while promoting overall prosperity, often lead to the decline of established companies.

Formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, this award has been conferred annually since 1968. The Swedish central bank established the prize as a tribute to Nobel, the 19th-century Swedish businessman, chemist, and inventor of dynamite who also founded the five original Nobel Prizes.

While economists and award administrators note that the economics prize is technically distinct from the five Nobel Prizes established in Nobel's will, it maintains equal prestige and is presented alongside the other honours during the annual December 10 ceremony. The prize underscores the Nobel Foundation's commitment to recognizing exceptional intellectual achievement across disciplines.