The Nobel Peace Prize is one of the five Nobel Prizes created by the Swedish industrialist, inventor, and armaments manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiology or Medicine, and Literature.
The Nobel Prize is a set of annual international awards bestowed in a number of categories by Swedish and Norwegian institutions in recognition of academic, cultural, and/or scientific advances.
Alfred Bernhard Nobel was a Swedish chemist, engineer, inventor, businessman, and philanthropist.
President Obama On Winning the Nobel Peace Prize by The Obama White House
Since December 1901, it has been awarded annually to those who have "done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses".
A peace congress, in international relations, has at times been defined in a way that would distinguish it from a peace conference, as an ambitious forum to carry out dispute resolution in international affairs, and prevent wars.
Peace is a lack of conflict and freedom from fear of violence between heterogeneous social groups.
President Barack Obama Wins Nobel Peace Prize by Associated Press
Per Alfred Nobel's will, the recipient is selected by the Norwegian Nobel Committee, a five-member committee appointed by the Parliament of Norway.
The Norwegian Nobel Committee selects the recipients of the Nobel Peace Prize each year on behalf of Swedish industrialist Alfred Nobel's estate, based on instructions of Nobel's will.
The Storting is the supreme legislature of Norway, established in 1814 by the Constitution of Norway.
The prize was formerly awarded in the Atrium of the University of Oslo Faculty of Law, the Norwegian Nobel Institute, and the Parliament.
The Faculty of Law of the University of Oslo is Norway's oldest law faculty, established in 1811 as one of the four original faculties of The Royal Frederick University.
Due to its political nature, the Nobel Peace Prize has, for most of its history, been the subject of controversies.