Show me a continent, country, region, state or city that is liquid, stable, and growing, with socio-political harmony, and I will show you it is optimizing its public assets. Show me one that is illiquid, unstable, and declining, with socio-political disharmony, and I will show you it is not optimizing its public assets. Assets can always be optimized to fix or rejuvenate other balance sheet and income statement items.
This is the extract of a paper of the same title posted on SSRN (Social Science Research Network). You can download the full paper (in PDF format) here.