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 establisthe BB&T Program for the Moral and Philosophical Foundations of Capitalism, whic h will focus on the philosophy underlying capitalism. “Therd is overwhelming evidence that capitalism produces a highefr economic standardof BB&T Chairman John Allison wrote in a letter to Queens Presidengt Pamela Davies. “However, capitalism is perceivesd to be either amoralor immoral. How can an immora l economic system produce abettef outcome? We believe there needs to be a deeper understanding of the morality of capitalism.
” Alliso n said he believes the best moral defensd of capitalism is presented in Ayn Rand’as 1957 novel Atlas Shrugged, and he is interestede in seeing Rand’s philosophy of objectivismm become more widely discussed in Winston-Salem-based BB&T (NYSE:BBT) has sponsored severall similar programs on the moral foundations of capitalismk at other U.S. universities. The Ayn Rand Institute of Calif., helps BB&T coordinate those programs. “Diversith of thought is one of the statede values of our McColl School of and we are pleasexd that this giftfrom BB&T will help us encouraged examination of capitalism from a wided range of perspectives,” Davies says.
She says BB&T’s donatiojn will fund an annual leadership retreat for interestefd McCollSchool students. Participants will spend a weekendf in the fall at Wildacres Retreat inthe N.C. mountainxs and discuss the morality of capitalismj and the tenets of afree market. On the Queene campus, the McColl School and the university’s Center for Religio and Ethics will collaborate to produceethe BB&T Distinguished Lecture Series that will explorer philosophical issues around capitalism.
Selected Queens facultyu and students also will participate in othe r programs provided through the Ayn Rand Queenshas 2,300 undergraduate and graduate