Christian Investment Strategy: A Meditation for Businessmen

Philippians 3:7-8

⁷ But whatever gain I had, I counted as loss for the sake of Christ. ⁸ Indeed, I count everything as loss because of the surpassing worth of knowing Christ Jesus my Lord. For his sake I have suffered the loss of all things and count them as rubbish, in order that I may gain Christ

Peter T. O’Brien begins his comments on this section in his commentary on Philippians by pointing out that Paul is using accounting terminology when he speaks about gains and losses (p. 383.) Paul is dealing with the issue of valuation; that is, assigning values to objects. His conversion to Christ involves a re-valuation (O’Brien, as a theology professor, rather than a financial analyst, doesn’t quite get the accounting terms right, but the concepts are there.) I agree. Gains, losses, and reckoning – or counting, as the ESV has it – all seem to point to commercial transactions and investment strategies.

But there is a very important investment concept implicit in this passage that O’Brien doesn’t comment on. I doubt that Paul was enough of a specialist in finance to be able to put a label on it. Certainly, professor O’Brien is not. And, even most senior executives ignore it when selecting investment projects. But it is clearly included in Paul’s logic: opportunity cost.

Wikipedia defines opportunity cost as “the cost of something in terms of an opportunity foregone (and the benefits that could be received from that opportunity), or the most valuable foregone alternative.”

So, when Paul reviews his previous privileges and moral accomplishments in the absence of Christ he sees gain. But, having discovered the surpassing value of knowing Christ, he recognizes that there is an opportunity cost associated with the things that he previously valued. Relying on his own personal righteousness and moral accomplishment – that is, investing in his own righteousness – causes him to forego investing in a righteousness from God making him miss out on knowing Christ. The cost of this is the value of knowing Christ: infinite. To call that a loss is an understatement; it’s rubbish! “I count them as rubbish, in order that I may gain Christ.”