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Not anymore. (data below are quoted from Time vol 177/10)
1. USA is not the most prosperous country in the world. Norway is
2. USA comes 12th in college graduations.
3. USA comes in 27th place for life expectancy. Japan is first, Hong Kong is seventh.
4. USA ranks 31st for adequate food and shelter. First is Denmark, second is Singapore
In newly independent countries where there is lack of technocrats, the government should step in to fill the vacuum created by the absence of colonial power. E.g. In economic sector, government runs nationalised corporations to earn revenue for the newly independent country.
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