A new study finds America’s Economy (and Social Programs): Fueled by Faith.
The Bible tells us that without faith we cannot please God. Here’s something else the loss of faith would do: leave a 1.2 trillion dollar hole in the U.S. economy.
Religion in the United States is worth 1.2 trillion a year, making it equivalent to the 15th largest national economy in the world, according to a study out of Georgetown University.
The numbers alone are staggering but here’s a correlation that can’t be ignored: the faith economy has a higher value than the combined revenues of the top 10 technology companies in the US, including Apple, Amazon, and Google.
More than 150 million Americans, almost half the population, are members of faith congregations, according to the report. And although numbers are declining, the sums spent by religious organizations on social programs have tripled in the past 15 years.
Twenty of the top 50 charities in the US are faith-based, with a combined operating revenue of $45.3 billion.
The study’s authors emphasize that “Religion is a highly significant sector of the American economy because it provides purpose-driven institutional and economic contributions to health, education, social cohesion, social services, media, food and business itself.”
“Perhaps most significantly,” the study adds, “religion helps set Americans free to do good by harnessing the power of millions of volunteers from every corner of the country’s landscape.”