Transistor and is ubiquitous in modern electronic systems. Julius Edgar Lilienfeld patented a field-effect transistor in 1926 but it was not possible to actually construct a working device at that time. The first practically implemented device was a point-contact transistor invented in 1947 by American physicists John Bardeen, Walter Brattain, and William Shockley. The transistor revolutionized the field of electronics, and paved the way for smaller and cheaper radios, calculators, and computers, among other things. The transistor is on the list of IEEE milestones in electronics, and Bardeen, Brattain, and Shockley shared the 1956 Nobel Prize in Physics for their achievement.
Nobel Memorial Prize in Economic Sciences its association with the Nobel Prizes, an association that has often been a source of controversy. Among them is the Swedish human rights lawyer Peter Nobel, a great-grandnephew of Ludvig Nobel. Nobel criticizes the awarding institution of misusing his family's name, and states that no member of the Nobel family has ever had the intention of establishing a prize in economics. He explained that "Nobel despised people who cared more about profits than society's well-being", saying that "There is nothing to indicate that he would have wanted such a prize", and that the association with the Nobel prizes is "a