21st Century Education and Media Literacy

In a World Bank study from 2005 called “Where is the Wealth of Nations?: Measuring Capital for the 21st Century,” economist determined that once all of the world’s natural resources and produced capital is taken into account, 80% of the wealth of rich countries and 60% of the wealth of poor countries is comprised of intangible factors such as trust among people in a society, an efficient judicial system, clear property rights and effective government. All this intangible capital also boosts the productivity of labor and results in higher total wealth. In fact, the World Bank finds, “Human capital and the value of institutions (as measured by rule of law) constitute the largest share of wealth in virtually all countries.”