Early this year, North Carolina based BB&T announced that it would no longer provide funding to commercial developers who build on land taken from private property owners by eminent domain. Now comes news that they are going even further in advocating capitalism and individual liberty:
Winston-Salem-based BB&T?s philanthropic organization, BB&T Charitable Foundation, recently made the $1 million donation to UNC-Greensboro to establish the BB&T Program in Capitalism, Markets and Morality. The program also will create the Ayn Rand Reading Room in the school?s library. The room will include fiction and nonfiction works by Rand, who was an economic freedom advocate, and other authors.
BB&T Chairman and Executive Officer John Allison IV said the grant would help to promote students? understanding of concepts outside the technical framework of businesses. ?Unfortunately, we find that many students who graduate with business degrees while understanding the ?technology? of business, do not have a clear grasp of the moral principles underlying free markets,? Allison said.
The gift will fund an undergraduate course on markets and morality and a separate course for graduate students. It will also provide faculty grants for curriculum development to increase students? knowledge of capitalism and moral foundations in the economic principle.
Good for BB&T for doing this, and for recognizing the importance of protecting the intellectual foundations of freedom. Once again, I’m glad to be an account holder there.
H/T: The Liberty Papers?