BB&T's $2 Million Gift to Help Support the Study of Capitalism at NC State’s College of Management
Media Contact:
Anna Rzewnicki, College of Management, 919/513-4478
July 2, 2007
FOR IMMEDIATE RELEASE
North Carolina State University’s College of Management received a $2 million contribution from BB&T to establish the BB&T Center for the Study of Free Markets and Institutions.
The funding will endow a BB&T Professorship of Free Markets and Institutions and a BB&T Graduate Fellowship in the college’s Department of Economics. This will support research and the development of new undergraduate and graduate courses in the philosophical foundations of capitalism.
An annual debate and undergraduate essay contest will engage the broader university community and the general public in discourse on the topic. Results of research on markets and institutions and other activities led by the center will be made available to the public through a new website and other communications.
“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,” said John Allison IV, chairman and chief executive officer of BB&T Corporation.
“The new coursework, faculty research, and public discourse through the annual debate, essay contest and website will enable the college to take a leadership role in increasing awareness and understanding of the positive impacts of capitalism,” said Ira R. Weiss, dean of the college. “We appreciate BB&T’s commitment to education on this topic and to the NC State College of Management.”
The BB&T Charitable Foundation is the philanthropic wing of BB&T Corporation, a Winston-Salem-based financial holding company with $121.7 billion in assets. BB&T operates more than 1,450 banking offices in 11 states and Washington, D.C.
The NC State College of Management was established 1992 and offers graduate and undergraduate degrees in accounting, business management and economics, with an emphasis on the management of technology and innovation.