Claudi Goldin on Monday became only the third woman to bag the Nobel Prize in Economics since the award was first introduced in 1969, for her work in women's labour market outcomes.
"The Royal Swedish Academy of Sciences awarded the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Claudia Goldin for her work in advancing the understanding of women’s labour market outcomes," the official statement read.
Of all the Nobels, the economics prize has the fewest number of women who have won, with just two since it was first awarded in 1969 -- Elinor Ostrom in 2009 and Esther Duflo in 2019. The first economics prize was awarded the following year and past winners include a host of influential thinkers and academics such Friedrich August von Hayek, Milton Friedman and, more recently, U.S. economist Paul Krugman.
The Economics Nobel closes out this season of The Royal Swedish Academy of Sciences-given awards which includes laureates in medicine, physics, chemistry, literature and peace that were announced last week.
Sweden's central bank in 1968 established the economics prize, which is officially referred to as the Bank of Sweden Prize in Economic Sciences in honor of Alfred Nobel.
Former Federal Reserve Chair Ben Bernanke, Douglas W Diamond and Philip Dybvig bagged the prize last year for theri research into bank failures that helped shape America’s aggressive response to the 2007-2008 financial crisis.
The economics prize is the only prize not among the original five set out by the will of Alfred Nobel, who died in 1896. It was instead created through a donation from the Swedish central bank in 1968, and detractors have thus dubbed it "a false Nobel".
However, just like the other science prizes the Royal Swedish Academy of Sciences decides the winner and finding candidates follows the same process.
Just like all the prizes it comes with a gold medal, a diploma and a prize sum of 11 million Swedish kronor (about $1 million), and laureates receive their prizes from King Carl XVI Gustaf at a lavish prize ceremony in Stockholm.
Source Name : Economic Times