A system in which a country's performance at the Olympics is adjusted to take into account its per-capita GDP. Unless, of course, you think that the west just happens to produce a massively disproportionate number of great athletes...
Score = (Total medals / average per capita GDP) * 100,000
Applying this 100% scientific formula we can see that the USA and Australia were soundly whipped by most of the 'developing' world in the Sydney Olympics (using 1996 production figures):
United States of America: 346