Nobel Prize in Literature Scandinavian lecture tour suggesting that Hammarskjöld was, like Auden, homosexual. In 1962, John Steinbeck received the Nobel Prize for Literature. The selection was heavily criticized, and described as "one of the Academy's biggest mistakes" in one Swedish newspaper. "The New York Times" asked why the Nobel committee gave the award to an author whose "limited talent is, in his best books, watered down by tenth-rate philosophising", adding, "we think it interesting that the laurel was not awarded to a writer ... whose significance, influence and sheer body of work had already made a more profound impression on the literature of
Nobel Memorial Prize in Economic Sciences expenses associated with the prize and funds the monetary component of the award. Since 2012, the monetary portion of the Prize in Economics has totaled 8 million Swedish kronor. This is equivalent to the amount given for the original Nobel Prizes. Since 2006, Sveriges Riksbank has given the Nobel Foundation an annual grant of 6.5 million Swedish kronor (in January 2008, approx. US$1 million; 0.7 million Euro) for its administrative expenses associated with the prize as well as 1 million Swedish kronor (until the end of 2008) to include information about the prize on the Nobel Foundation's web site. The