
In 1976, Milton Friedman won a Nobel Prize in Economics, yet receiving such a price isn’t that obvious. First, the Nobel Committees send a sort of request to a lot of members of academies and universities, asking them to indicate possible candidates to win the Noble Prize the coming year. After that, all 514 members of The Royal Swedish Academy of Sciences, which is the department for the Prize in Physics, Chemistry and Economics, decide who gets the Nobel Prize this time. The winner receives a medal, a personal diploma and a cash award. This year, the award amounts to 10 million Swedish kronor per Nobel Prize!
Herbert Spanhove
Source: Nobelprize.org
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