A new analysis from Georgetown University that attempts to document the economic value of religion in U.S. society found that the faith sector is worth $1.2 trillion, more than the combined revenue of the top 10 technology companies in the country, including Apple, Amazon, and Google.
The study, The Socioeconomic Contributions of Religion to American Society: An Empirical Analysis, makes three estimates of the quantitative economic value of faith to American society.
The first estimate took into account only the revenues of faith-based organizations, which came to $378 billion annually. The second estimate, $1.2 trillion, included the fair market value of goods and services provided by religious organizations and included contributions of businesses with religious roots.
The third, higher-end, estimate of $4.8 trillion takes into account the household incomes of religiously affiliated Americans, assuming that they conduct their affairs according to their religious beliefs.
The study’s authors, Brian Grim of Georgetown University and Melissa Grim of the Newseum Institute, conclude that the second estimate of $1.2 trillion is the most reasonable because “it takes into account both the value of the services provided by religious organizations and the impact religion has on a number of important American businesses.”
Read more: Georgetown Study: Religion Worth $1.2 Trillion in U.S. Economy, More Than Google and Apple Combine
The study, The Socioeconomic Contributions of Religion to American Society: An Empirical Analysis, makes three estimates of the quantitative economic value of faith to American society.
The first estimate took into account only the revenues of faith-based organizations, which came to $378 billion annually. The second estimate, $1.2 trillion, included the fair market value of goods and services provided by religious organizations and included contributions of businesses with religious roots.
The third, higher-end, estimate of $4.8 trillion takes into account the household incomes of religiously affiliated Americans, assuming that they conduct their affairs according to their religious beliefs.
The study’s authors, Brian Grim of Georgetown University and Melissa Grim of the Newseum Institute, conclude that the second estimate of $1.2 trillion is the most reasonable because “it takes into account both the value of the services provided by religious organizations and the impact religion has on a number of important American businesses.”
Read more: Georgetown Study: Religion Worth $1.2 Trillion in U.S. Economy, More Than Google and Apple Combine
