Consider this – total medals by GDP (among others). There is always an economic perspective on everything

Economic Sense

If labor is the source of the wealth of nations (Adam Smith) from this we can extrapolate that there is a positive correlation with population, and GDP.

“The annual labor of every nation is the fund which originally supplies it with all the necessaries and conveniences of life which it annually consumes, and which consist always either in the immediate produce of that labor….”

The production of this main factor input will result in more output of all activity including athletic performance. Therefore, we can drawing the logical connection and conclusion on the basis of this labor theory of value; the value of a medal is related to the labor needed to produce or obtain that medal.

This entry was posted in Dr. Mulli's Economics Blog. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s