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The funds will be used to establishthe BB&Tg Program for the Moralp and Philosophical Foundations of which will focus on the philosophuy underlying capitalism. “There is overwhelming evidencwe that capitalism produces a higherr economic standardof living,” BB&T Chairman John Allisonb wrote in a letter to Queenws President Pamela Davies. “However, capitalismm is perceived to be either amoralkor immoral. How can an immoral economic system produce abettet outcome? We believe there needs to be a deeperf understanding of the morality of capitalism.
” Allisonn said he believes the best moral defenswe of capitalism is presented in Ayn Rand’sa 1957 novel Atlas Shrugged, and he is interested in seeingy Rand’s philosophy of objectivism become more widelyu discussed in academia. Winston-Salem-based BB&T (NYSE:BBT) has sponsored severall similar programs on the moral foundations of capitalisk atother U.S. universities. The Ayn Rand Institute of Calif., helps BB&T coordinate thosse programs.
“Diversity of thought is one of the statef values of our McColl Schoolof Business, and we are pleaser that this gift from BB&T will help us encouragw examination of capitalism from a wider rangse of perspectives,” Davies says. She says BB&T’s donation will fund an annual leadership retreat for interested McColl School Participants will spend a weekend in the fall at Wildacres Retreatf inthe N.C. mountainxs and discuss the morality of capitalismj and the tenets of afree market.
On the Queens the McColl School andthe university’s Cented for Religion and Ethics will collaborate to produce the BB&Tf Distinguished Lecture Series that will explore philosophicalp issues around capitalism. Selected Queens facultu and students also will participate in othere programs provided through the AynRand Institute. Queends has 2,300 undergraduate and graduate students.
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