The BB&T Corp. will grant $2 million to UT to establish the BB&T chair for the study of objectivism, a philosophy of author Ayn Rand.

The grant will be paid over a 10-year period for research related to objectivism and Rand's philosophical thought. Rand is known for her work in moral and political philosophy. Her works have evaluated such issues as knowledge and aesthetics. Rand favored laissez-faire capitalism and strongly opposed socialism, altruism, religion and other contemporary philosophical trends.

BB&T Corp. Chief Executive Officer John Allison is trying to encourage a thorough and fair discussion of Rand's philosophy and the moral foundations on university campuses.

Tara Smith, a philosophy professor and head of the fellowship for the study of objectivism, said the money will fund conferences and workshops, help bring in visiting speakers and support student work. The University will allocate money to student reading groups, fund tuition for philosophy graduate students and support student participation in conferences.

Smith said the grant money will allow her to take some time away from teaching to devote herself to researching objectivism, among other areas of study.

"Research in philosophy isn't, for the most part, field work of the sort that's typical in many other disciplines," Smith said in an e-mail. "It's largely reading and writing - reading what other philosophers, either historical or contemporary, have to say on the issues in dispute."

Smith is organizing the interdisciplinary conference, "Objectivity in the law," to be held April 4 and 5 on the UT campus.

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