The 1971 Nobel Prize in Economic Sciences awarded to prominent economist Simon Kuznets will be auctioned by Nate D. Sanders Auctions on February26. It is the first Nobel Prize in Economic Sciences to ever be auctioned and only the fifth Nobel Prize to ever go under the hammer. Interestedbidders may participate in the auction online.

Dr. Kuznets, a Harvard University economist, pioneered the measurement of national income and economic development. He developed amacroeconomics-based measurement system, which the Commerce Department uses to estimate the gross national product. The World Bank and privateeconomists adopted Kuznets' system to estimate economic growth in industrial and third- world countries.

In 1971, the Swedish Royal Academy of Science awarded Dr. Kuznets the Nobel Memorial Prize in Economic Science for his ''empiricallyfounded interpretation of economic growth, which has led to new and deepened insight into the economic and social structure and process ofdevelopment.''

The gold medal bears Alfred Nobel's image and the engraving ''Sveriges Riksbank Till Alfred Nobels Minne 1968" on one side. The medal'sreverse side features the Royal Swedish Academy of Sciences' north star emblem with the engraved phrase "Kungliga Vetenskapsakademien.''"Simon Kuznet 1971" is engraved on the medal edge. The medal is displayed in the original red leather case with Dr. Kuznets' name gilt stamped.

To read the complete article, see:
EconomistSimon Kuznets' 1971 Nobel Prize to be auctioned by Nate D. Sanders Auctions(http://artdaily.com/news/76575/Economist-Simon-Kuznets--1971-Nobel-Prize-to-be-auctioned-by-Nate-D--Sanders-Auctions#.VOowMPkVi5U)

To read the earlier E-Sylum articles, see:
FRANCIS CRICK'S 1962 GOLD NOBEL PRIZE MEDAL TO BE AUCTIONED(www.coinbooks.org/esylum_v16n09a34.html)
WATSON'S 1962 NOBEL MEDAL BRINGS $4.75 MILLION(www.coinbooks.org/esylum_v17n50a13.html)
WHAT'S A GOLD NOBEL PRIZE MEDAL WORTH? (www.coinbooks.org/esylum_v16n16a12.html)