Saturday, April 28, 2007

Teaching the Philosophy of Capitalism

BB&T is sponsoring a program to educate business students in the philosophical aspects of capitalism:

"The University of Charleston and BB&T have teamed up to offer business students and the community an insight into the moral underpinnings of capitalism.

"'There is overwhelming evidence that capitalism produces a higher economic standard of living,' Phyllis Arnold, BB&T’s West Virginia president, said Friday at UC.

"BB&T will give UC’s Herbert Jones Division of Business a $350,000 grant over the next seven years to 'create a program on the moral and ethical foundations of capitalism,' Arnold said.

"The program will be based on the philosophy of writer Ayn Rand and her book 'Atlas Shrugged,' she said.


"We find that many graduates of business schools, while understanding the technology of business, do not have a clear grasp of the moral principles underlying free markets," she said.


"'Typically, business students are capitalists,' he said. 'but outside of their own desires they don’t really have an understanding of capitalism and that it can be morally defended.'"


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