I just read an article about BB&T bank making a considerable contribution to WCU College of Business. Included in the contribution was a stipulation that Ayn Rand‘s philosophy of objectivism be taught to explore the “moral and ethical foundation of capitalism.”
The article also stated, “Plus another $500,000 in matching funds it hopes to obtain from the State Legislature.”
Capitalism is an economic system in which means of production and distribution are mostly privately owned and operated for private profit.
In its purest form, it’s a system where individuals invest their privately owned assets into a venture of producing and distributing a particular thing for profit. It’s a risk-taking proposition. There are no guarantees a profit will be realized; there is always the possibility of a loss of the privately invested capital. Conversely, if the venture is a success and enjoys a profit, the individual investors reap the resulting power of their risk-taking venture.
