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With President Obama’s recent winning of the Nobel Peace Prize it leaves many of us wondering what exactly is the Nobel Peace Prize.  According the Nobel, the founder of the Nobel Peace Prize, the prize shall be award to someone who had strived to increase communication between nations, reduced standings of armies, and a general willingness and action to increase peace in the world.

American Presidents including Carter, Wilson, and Roosevelt have received the award in the past for their exceptional drive to help promote peace in the world.  Economist Frederic Passy, and business man Henry Dunant together received the first Nobel Peace Prize.  Dunant was the founder of the Red Cross and the Geneva convention, Passy was the founder of the first French peace society.  Winner of the Nobel Peace prize receives the Nobel Peace Prize medal and a cash award equivalent to almost 1.5 million USD.  But more greatly prized is the honor that the winner of the Nobel Peace Prize gets for being recognized in their field.