The Nobel Prize

I'm told that our President was awarded the Nobel Prize for peace recently. Good for him.

Alfred Nobel was a chemist and inventor of some note. He owned Bofors, a large armaments manufactory and was the inventor of dynamite. When he died, he left a substantial portion of his estate to the funding of five prizes,the first three for physical science, chemistry, medical science or physiology. The fourth is for literature, the fifth is for the person or organization who renders the greatest service to the cause of international fraternity, in the suppression or reduction of standing armies, or in the establishment or furtherance of peace congresses. This is the Peace Prize we hear discussed.

Prizes are awarded by the Nobel Foundation. On their website they specifically state that the prizes are not the result of a competition or lottery. In short, they can give the prizes to anybody they wish.

It's their money, they can do with it what they will.

Much ado is being made in the blogosphere about our President being the recipient of the peace prize. I don't care one way or another. As a staunch believer in freedom of all stripes, including economic and property freedom, I reiterate. It's their money, they can give it to whoever they wish.

It's not a competition, it's an award. They can do with the money as they will.