The Swedish Academy (), founded in 1786 by King Gustav III, is one of the Royal Academies of Sweden. Its 18 members, who are elected for life, comprise the highest Swedish language authority. Outside Scandinavia, it is best known as the body that chooses the laureates for the annual Nobel Prize in Literature, awarded in memory of the donor Alfred Nobel. History The Swedish Academy was founded in 1786 by King Gustav III. Modelled after the Académie française, it has 18 members. It is said that Gustaf III originally intended there to be twenty members, half the number of those in the French Academy, but eventually decided on eighteen because the Swedish expression De Aderton – 'The Eighteen' – had such a fine solemn ring. The academy's motto is "Talent and Taste" ("Snille och Smak" in Swedish). The academy's primary purpose is to further the "purity, strength, and sublimity of the Swedish language" ("Svenska Språkets renhet, styrka och höghet") (Walshe, 1965). The building now known as the Stockholm Stock Exchange Building was built for the bourgeoisie. The bottom floor was used as a trading exchange (this later became the stock exchange), and the upper floor was used for balls, New Year's Eve parties, etc. When the academy was founded, the ballroom was the biggest room in Stockholm that could be heated and thus used in the winter, so the King asked if he could borrow it. The academy has had its annual meeting there every year since, attended by members of the Swedish royal family. However, it was not until 1914 that the academy gained permanent use of the upper floor as their own. It is here that the academy meets and, amongst other business, announces the names of Nobel Prize laureates. This task arguably makes the academy one of the world's most influential literary bodies. Members are elected by a secret ballot in the Academy and before the result is made public it must be submitted to the Academy's Patron, the King of Sweden, for his approval. Members of the Academy include writers, linguists, literary scholars, historians and a prominent jurist. Initially writers were in the minority in the Academy, but during the twentieth century the number of writers grew to represent more than half of The Eighteen. The Swedish Academy have a long history of being a heavily male dominated institution, but the Academy has recently moved towards