Clemson University will use a $3.5 million gift from BB&T Corp. to expand research and its teaching center dedicated to exploring the moral foundations of capitalism, according to a university news release.

The Clemson Institute for the Study of Capitalism in the College of Business and Behavioral Science was established in 2005 with $1.4 million from BB&T Charitable Foundation. With the additional gift, to be paid over 10 years, the institute will expand academic and professional offerings for students, faculty and the general public on the moral, political and economic foundations of a free society, Clemson officials said.

Claude Lilly, dean of the College of Business and Behavioral Science at Clemson, is encouraged by the gift and the attention the college is receiving, according to the release.

“John Allison and BB&T are showing great trust in our ability to educate and prepare students,” Lilly said. “We are pleased that they want to enhance the academic and professional relationship with the college and the university.”

Clemson students will be able to interact with students and faculty in a consortium of schools that include the University of Virginia, the University of Kentucky, West Virginia University, Duke University, George Mason University, UNC-Chapel Hill and the University of Florida.

“It is important to us that any program we support meets the highest academic standards and encourages students to hear all points of view,” said John A. Allison, chairman and chief executive officer of BB&T Corp, according to the release. "There is overwhelming evidence that capitalism produces a higher economic standard of living, which is why there needs to be a deeper understanding of the morality of capitalism and its causal relationship to economic well-being. BB&T is proud to partner with the Clemson Institute for the Study of Capitalism in this important endeavor.”