Have and have nots has been a topic of a lot of debate, but --
It would be helpful in gauging the effectiveness of economies if economists would develop a measure -- ROE of Nations -- based upon the output of countries relative to their wealth, whether in natural resources, fiscal resources and even whether they have places/history that tourist are attracted to -- as well as "off balance sheet assets" like paintings and jewelry (and even castles), valued not based upon current trading value (but in PV of future earning potential).
It would be helpful in gauging the effectiveness of economies if economists would develop a measure -- ROE of Nations -- based upon the output of countries relative to their wealth, whether in natural resources, fiscal resources and even whether they have places/history that tourist are attracted to -- as well as "off balance sheet assets" like paintings and jewelry (and even castles), valued not based upon current trading value (but in PV of future earning potential).
So countries that benefited from empire building in the past (UK, Netherlands, Germany) or have a lot of natural resources (Russia, Middle East, Australia) can gauge their competitiveness, and potential for greater competitiveness -- relative to countries with little historical wealth (Scandinavia, Japan, Korea).
Guess this would fall in the category of measuring countries based upon purchasing price parity adjustments.
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