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 his will in 1895, it is not a Nobel Prize. However, it is administered and referred to along with the Nobel Prizes by the Nobel Foundation. Laureates are announced with the Nobel Prize laureates, and receive the award at the same ceremony. Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, "for having developed and applied dynamic models for the analysis of economic processes". An endowment "in perpetuity" from Sveriges Riksbank pays the Nobel Foundation's administrative