Do we really need a study to tell us that richer countries win more Olympic medals? My mom will tell you that such a study is a waste of resources because the answer will obviously be, “Of course richer countries win more Olympic medals.”
Now, the good folks at the Lingnan University in Hongkong obviously disagree with my mom (re: the usefulness of such study) so they set out to do an “econometric analysis of the Olympic Games“. They whipped out their calculators, pored over Olympic medal records, examined the different countries’ material wealth, did their statistical analysis thing, and came up with the following conclusion:
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