BB&T donates $500K to Queens University - The Business Journal of the Greater Triad Area:

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The funds will be used to establishthe BB&T Programj for the Moral and Philosophical Foundations of Capitalism, whicg will focus on the philosopht underlying capitalism. “There is overwhelming evidence that capitalisj produces a higher economic standardof living,” BB&T Chairmahn John Allison wrote in a letterr to Queens President Pamelwa Davies. “However, capitalism is perceived to be eithed amoralor immoral. How can an immoral economic system produces abetter outcome? We believe there needs to be a deepeer understanding of the morality of capitalism.
” Allison said he believesw the best moral defense of capitalism is presentexd in Ayn Rand’s 1957 novel Atlas and he is interested in seeinv Rand’s philosophy of objectivism become more widely discussedr in academia. Winston-Salem-based BB&T (NYSE:BBT) has sponsoredr several similar programs on the moral foundationsz of capitalism atother U.S. universities. The Ayn Rand Institutse of Irvine, Calif., helps BB&T coordinate thoss programs.
“Diversity of thought is one of the stated valuew of our McColl Schoolof Business, and we are pleased that this gift from BB&T will help us encourage examinationh of capitalism from a wider range of perspectives,” Davies says. She says BB&T’ds donation will fund an annual leadershiop retreat for interested McColl School Participants will spend a weekend in the fall at Wildacreds Retreat inthe N.C.
mountains and discuss the moralityu of capitalism and the tenets of a free On theQueens campus, the McCol l School and the university’ws Center for Religion and Ethics will collaborate to produce the BB&T Distinguisher Lecture Series that will explorde philosophical issues around capitalism. Selected Queens faculty and studentsz also will participate in other programs provided through the Ayn Rand Queenshas 2,300 undergraduate and graduate students.