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In an op-ed, Lord Mervyn King shares his perspective on the 50-year history of the Nobel Prize in Economics

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Excerpt from Bloomberg -- "Next week marks the 50th anniversary of the Nobel Prize in Economics, as it has come to be known. It was first awarded in 1969 by the Swedish central bank as an addendum to the other, much older, Nobel prizes (and is correctly known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel). This upstart status subtracts nothing from the esteem, or cash, according to the laureates. The latest winner, or winners, will be announced Monday."

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