Nobel prize amounts will be cut by 20% in 2012, the foundation that runs the program announced Monday. The move was made to
protect the foundation’s long-term capital after years of falling short of covering its operating expenses.
The new amount for each prize will be 8 million Swedish Krona, or $1.1 million. The previous prize amount was 10 million Swedish Krona, or $1.4 million. cnn