Weighting is performed by letting Bronze=1, Silver=1.2, Gold=1.5. This convention is somewhat exponential, similar to the convention of Bronze=1, Silver=2, and Gold=4 however, in maintaining integers there is an enormous disparity that would be hard to reconcile.
I am using the natural logarithm here as I believe this to be more accurate than simply looking at a population as a country with 200 million people cannot enter 10X as many teams as one with a population of 20 million. However, In an increased population, there would be naturally (and with training) more at the extreme of the distribution worthy to be in the Olympics and thus a higher population would be expected to have more "talent". Now for the sake of a quick comparison, the log of 200 million and 20 million, respectively are about 19.1 and 16.8. Certainly for a sport where there might only be 10 persons representing their country, if theoretically the very best are put forward, it would be expected there would be a small difference between the best of a larger population country versus a smaller ones, per all other factors balanced as this goes directly to the probabilities of distributions, A more complicated measure could be undertaken but this one I feel does what it is intended to do. Whereas Jamaica was far on top per my prior two websites of making such a comparison, albeit still noteworthy comparisons, we should see in this more accurate comparison, findings that shouldn't be all too surprising but there would likely be some surprises.
As you can see, the wealthier countries are on top, but some not so wealthy are up there as well which could be partly explained by the choice of government and within the culture as well, to put greater importance in international competition. Generally, the impoverished nations do not fare as well and you may guess that some countries really do not have much of an interest, apparently based in their cultural values which may be based in religion, displacement with other desires, too much of a struggle to survive and which I say has much to do with irresponsible overpopulating. I will soon make a web site of GDP per person and rank by birth rate and by population density. Somehow those in third world countries have to come to the realization that making fewer babies is more responsible, in making only those the parents can support and which there is opportunity within the country to not have say 10% of the population as migrant workers in other countries and have to rely on a female member of the family to be a prostitute - it boils down to the decisions of parents and so many take that big responsibility too lightly.
For a simple medals per population table: 2012 Olympics, Medals Won per Country Population
| Rank | Country | Population (millions) | Weighted Medals | Weighted Medals/Log Population | |
| 1 | United States | 314 | 132.8 | 6.79 | |
| 2 | China | 1,350 | 111.4 | 5.30 | |
| 3 | Russian Federation | 143 | 99 | 5.27 | |
| 4 | Great Britain | 62.3 | 82.9 | 4.62 | |
| 5 | Germany | 81.9 | 53.3 | 2.93 | |
| 6 | Australia | 22.7 | 41.7 | 2.46 | |
| 7 | Japan | 128 | 44.3 | 2.37 | |
| 8 | France | 65.4 | 41.7 | 2.32 | |
| 9 | Republic of Korea | 50.0 | 36.1 | 2.04 | |
| 10 | Italy | 60.8 | 33.8 | 1.89 | |
| 11 | Netherlands | 16.7 | 24.2 | 1.46 | |
| 12 | Ukraine | 45.6 | 24 | 1.36 | |
| 13 | Hungary | 9.96 | 21.8 | 1.35 | |
| 14 | Spain | 46.2 | 20.5 | 1.16 | |
| 15 | Canada | 34.9 | 19.5 | 1.12 | |
| 16 | New Zealand | 4.43 | 16.1 | 1.05 | |
| 17 | Cuba | 11.2 | 17.1 | 1.05 | |
| 18 | Brazil | 192 | 19.5 | 1.02 | |
| 19 | Kazakhstan | 16.8 | 16.7 | 1.00 | |
| 20 | Jamaica | 2.71 | 14.8 | 0.999 | |
| 21 | Belarus | 9.46 | 15.5 | 0.965 | |
| 22 | Iran | 75.1 | 15 | 0.827 | |
| 23 | Czech Republic | 10.5 | 12.6 | 0.779 | |
| 24 | Kenya | 42.7 | 12.8 | 0.729 | |
| 25 | Azerbaijan | 9.24 | 11.4 | 0.711 | |
| 26 | Denmark | 5.58 | 10.8 | 0.695 | |
| 27 | Romania | 19.0 | 11 | 0.656 | |
| 28 | Poland | 38.5 | 11.4 | 0.653 | |
| 29 | Sweden | 9.51 | 9.3 | 0.579 | |
| 30 | Georgia | 4.50 | 8.1 | 0.529 | |
| 31 | Colombia | 46.6 | 9.1 | 0.515 | |
| 32 | Croatia | 4.29 | 7.7 | 0.504 | |
| 33 | Ethiopia | 84.3 | 8.7 | 0.477 | |
| 34 | North Korea | 24.6 | 8 | 0.470 | |
| 35 | South Africa | 50.6 | 7.9 | 0.445 | |
| 36 | Mexico | 112 | 8.1 | 0.437 | |
| 37 | Lithuania | 3.19 | 6.2 | 0.414 | |
| 38 | Ireland | 4.59 | 5.7 | 0.372 | |
| 39 | Mongolia | 2.84 | 5.4 | 0.363 | |
| 40 | Turkey | 74.7 | 6.4 | 0.353 | |
| 41 | Switzerland | 7.95 | 5.4 | 0.340 | |
| 42 | Norway | 5.03 | 5.2 | 0.337 | |
| 43 | Slovenia | 2.06 | 4.7 | 0.323 | |
| 44 | India | 1,210 | 6.4 | 0.306 | |
| 45 | Serbia | 7.12 | 4.7 | 0.298 | |
| 46 | Trinidad and Tobago | 1.32 | 4 | 0.284 | |
| 47 | Slovakia | 5.45 | 4.2 | 0.271 | |
| 48 | Argentina | 40.1 | 4.7 | 0.268 | |
| 49 | Uzbekistan | 29.1 | 4.5 | 0.262 | |
| 50 | Tunisia | 10.7 | 3.7 | 0.229 | |
| 51 | Armenia | 3.27 | 3.2 | 0.213 | |
| 52 | Finland | 5.41 | 3.2 | 0.206 | |
| 53 | Belgium | 11.0 | 3.2 | 0.197 | |
| 54 | Thailand | 65.5 | 3.4 | 0.189 | |
| 55 | Latvia | 2.07 | 2.5 | 0.172 | |
| 56 | Dominican Republic | 9.45 | 2.7 | 0.168 | |
| 57 | Estonia | 1.29 | 2.2 | 0.156 | |
| 58 | Puerto Rico | 3.73 | 2.2 | 0.145 | |
| 59 | Taipei | 6.90 | 2.2 | 0.140 | |
| 60 | Qatar | 1.70 | 2 | 0.139 | |
| 61 | Bulgaria | 7.36 | 2.2 | 0.139 | |
| 62 | Moldova | 3.56 | 2 | 0.133 | |
| 63 | Egypt | 82.5 | 2.4 | 0.132 | |
| 64 | Singapore | 5.18 | 2 | 0.129 | |
| 65 | Malaysia | 28.3 | 2.2 | 0.128 | |
| 66 | Greece | 10.8 | 2 | 0.123 | |
| 67 | Indonesia | 238 | 2.2 | 0.114 |
Now, for those interested in promoting PROSPERITY throughout the world, please see this 50-page site that is particular to the United States but can also be applied in similar fashion for other countries: PROPOSED SOLUTIONS