Writes Emma Ritch (AP) “USC receives $1 million capitalism ethics grant from BB&T:

The University of South Carolina announced Wednesday a $1 million grant from North Carolina-based BB&T to promote the study of capitalism…

…USC will get the funds over the next couple years, said business school dean Joel Smith III, and will use the money to create a capitalism ethics class, a capitalism-focused professorship, a lecture series and a room in the business library dedicated to the works of authors that support free enterprise such as Ayn Rand.

John Allison, chairman and CEO of BB&T, said USC and the bank jointly developed the focus of the endowment. “If you look at a lot of business education programs, they do a good job of teaching people the technical part of business,” Allison said. “But they don’t often explain the philosophical foundations for capitalism, and anybody can make better decisions if they understand the context.”

Recommended Reading:
Book Review of The Prime Movers: Traits of The Great Wealth Creators by John Allison
Over the last 250 years, the quality of life throughout the world has been transformed. Life expectancy has increased from nineteen years in 1750 to seventy years today, and practically everyone today lives better than a king in the 1700s. There has been more progress during this period than in the preceding 25,000 years. What kind of environment has made this incredible progress possible?

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