The World Bank uses the term “intangible wealth” to refer to resources such as the trust level in a community, personal freedoms, a fair court system, common standards regarding property rights and an effective government. They reason that in addition to natural sources of wealth (such as minerals or land) and in addition to produced capital (including factories and transportation infrastructure), a nation also has intangible wealth that makes a difference in a country’s economic status.
Most of us know some nations do not have great amounts of “intangible wealth.” I’ve been to places where a rental contract could be easily ignored, where government officials worked only when bribed and where people kept money at home because they had little confidence in the banks.
At its core, intangible wealth centers on trust and integrity. Christianity embraces and teaches such standards. As a Christian university we seek to instill such qualities of character and integrity in our graduates.
Various voices in government and education currently call for colleges to be evaluated by the salaries of their graduates compared to the cost of education. They might do well to listen to the broader perspective of the World Bank and include how the graduates of a college contribute to the “intangible wealth” of the nation. Schools that embrace and instill the lofty values of Christianity turn out graduates who typically increase the intangible wealth of a community. In the broader thinking of the World Bank, that has financial value to all of us.
What kind of nation do we want to become? One filled with bribes, kickbacks, distrust and meaningless contracts or one where integrity and trust are valued? A nation that ignores that question and evaluates graduates only by the salary they draw may find their economic well-being gradually declining because of a lower amount of intangible wealth.
Harold Shank