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Nobel was a genuine friend of peace. He even went so far as to believe that he had invented a tool of destruction, dynamite, which would make war so senseless that it would become impossible. He was wrong.

The Nobel prizes memorialize Alfred Nobel's faith in the contribution that human thought, directed to science and art, can make to human welfare.

When I was young my Father used to tell me that the two most worthwhile pursuits in life were the pursuit of truth and of beauty and I believe that Alfred Nobel must have felt much the same when he gave these prizes for literature and the sciences.

In dedicating his estate to the honoring of endeavors that benefit mankind, Alfred Nobel expressed a lifelong concern that is even more timely in 1972 than it was in his lifetime.

Alfred Nobel believed that social changes are brought about slowly, and sometimes by indirect means.

Alfred Nobel was much concerned, as are we all, with the tangible benefits we hope for and expect from physiological and medical research, and the Faculty of the Caroline Institute has ever been alert to recognize practical benefits.

The Nobel Prize in Economics is an incredible recognition for the work that my students, colleagues and I have done over the years. We all worked hard, but we were also lucky that the financial applications were so important.

It is a wonderful and unexpected honor to receive the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. Receiving this prize with Joseph Stiglitz and George Akerlof, whose work I have learned from and admired, makes it even more gratifying.

If I could explain it to the average person, I wouldn't have been worth the Nobel Prize.

Intellectual curiosity drove Einstein to some of the world's most important discoveries.