I am interested in finding some metrics that capture how 'socialist' or 'capitalist' a country was throughout modern history, and to include these alongside those in the gapminder dataset, to explore and examine any relationships with life expectancy and per capita income.
Two possible metrics I can think of are:
- the ratio of total government spending to all spending (G / Y), and,
- the value of government-owned assets divided by the value of all assets in the country's economy
What other metrics indicate how 'socialist' or 'capitalist' a country is?
For reference: Gapminder 2012