The Nobel Peace Prize and the Nobel Prize for Economics

On December 10, the anniversary of the death of Alfred Nobel, the Nobel Foundation awards the Nobel Prizes in Stockholm and Oslo. The winners of the annual awards announced them a few days ago. We introduce you to the winners and start with the Nobel Peace Prize and the Nobel Prize for Economics.

Nobel Peace Prize

The Nobel Prize, which enjoys the greatest media attention, is the Nobel Peace Prize. He is the only one awarded in Oslo. The squad of not always undisputed winners joins the “Quartet for the National Dialogue” of Tunisia this year. The quartet consists of the Trade Union Confederation (UGTT), the Employers’ Federation (UTICA), the Human Rights League (LTDM) and the Bar Association of Tunisia.

Background: In 2011, the authoritarian regime Ben Ali was overthrown in the wake of the Arab Spring. In the wake of the so-called Jasmine Revolution, the country was struggling with various problems. The country’s economy was down and unemployment was very high, affecting the younger generation in particular. On top of that, the social situation was tense due to corruption, nepotism and terrorism. Added to this was the frustration over the economic situation and the new political system.

In order not to let the situation in the country slip into anarchy, the quartet, which was founded in 2013, sought mediation and communication. In addition, it was instrumental in the preparation of the new Tunisian Constitution.

The quartet managed to stop the conflict between Islamists and liberal forces. The 2011 Ennahda party resigned and allowed free elections in 2014. The mood in the country improved and the constitutional government system passed its dress rehearsal.

Nobel Prize for Economics

The Nobel Prize for Economics is not a prize founded by Alfred Nobel, but has been awarded since 1968 by the Swedish Reichsbank. The official title of the award is “Prize of the Swedish Reichsbank for economics in memory of Alfred Nobel”.

This year, the prize was awarded to Anglo-American economist Angus Deaton. He has been researching the connection between consumption, poverty and welfare for 30 years. One of his key findings is that money only makes him happy to a certain extent. Infinite wealth does not mean infinite satisfaction.

He also criticizes the existing system of development aid. He does not reject it as such, but argues that it is not conditional. It hinders the development of local state structures and accounts for more than 50% of the total budget of a developing country. Where the money ultimately flows is not monitored by the lenders or within the respective country by an independent supervisory body. Thus, funds paid in good intentions can quickly seep into corrupt systems.

According to Deaton, economic development in developing countries should not be at the forefront of support. This means that fewer trade agreements should be concluded between rich and poor states.

In addition, Deaton pleads for a reduction in aid payments to poor countries. Instead, the health systems of each country should be improved. In addition, the rich countries should allow the poorer a free technology transfer. Through both measures, developed countries would provide effective help to poor countries for self-help.