Poor countries or poorly managed countries?

Monday, 17 January 2011 00:24 - - {{hitsCtrl.values.hits}}

Countries like Japan, Korea, Taiwan, Singapore, Dubai and even India (the knowledge economy) have clearly demonstrated that countries that have economically prospered in the last 50 years or so are the ones with a high level of human resources and management competencies, even if they do not have adequate natural resources.

By contrast, take countries like Nigeria, Myanmar, Venezuela, Sudan (to name a random few) – all with a very high level of natural resources, but have not been as successful in achieving widespread socio-economic prosperity. Is it time to measure GDP based on the Human Capital Index and Management Competencies?