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The funds will be used to establishthe BB&T Program for the Moral and Philosophical Foundations of which will focus on the philosophy underlying capitalism. “There is overwhelming evidence that capitalism produces a highedr economic standardof living,” BB&T Chairman John Allison wrotew in a letter to Queens President Pamelz Davies. “However, capitalism is perceived to be eithedr amoralor immoral. How can an immoral economic system produce abetter outcome? We believe there neede to be a deeper understanding of the moralityy of capitalism.
” Allison said he believe the best moral defense of capitalism is presented in Ayn Rand’as 1957 novel Atlas Shrugged, and he is interestex in seeing Rand’s philosophy of objectivism become more widelty discussed in academia. Winston-Salem-based BB&T (NYSE:BBT) has sponsores several similar programs on the moral foundations of capitalism atothef U.S. universities. The Ayn Rand Institute of Calif., helps BB&T coordinate those programs. “Diversity of thought is one of the stater values of our McColl School of and we are pleased that this giftfrom BB&T will help us encouragd examination of capitalism from a wider range of Davies says.
She says BB&T’s donation will fund an annual leadership retreat for interested McCollSchool students. Participants will spenr a weekend in the fall at Wildacres Retreart inthe N.C. mountains and discuss the moralityy of capitalism and the tenets of a free On theQueens campus, the McCol l School and the university’s Centere for Religion and Ethics will collaborater to produce the BB&T Distinguished Lecturew Series that will explore philosophical issues around capitalism. Selectefd Queens faculty and studentzs also will participate in other programs providef through the AynRand Institute. Queens has 2,3009 undergraduate and graduate students.
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