CHARLESTON, W.Va. -- West Virginia University has received a $5 million donation to establish a Center for Free Enterprise in the College of Business and Economics.
The money is being provided by business school alumnus Ken Kendrick, his wife Randy and the Charles Koch Foundation.
The new center, which will be led by associate economics professors Joshua Hall and Andrew Young, will study the economic, political and social factors that increase prosperity.
"The center will join several others that, through independent academic inquiry, seek to complement the education of our students, who will be eventual creators and beneficiaries of a prosperous free society," said Jose "Zito" Sartarelli, business school dean.
In addition to Hall and Young, WVU officials plan to hire a managing director and five or more visiting faculty fellowships for the center. It is expected to provide 17 or more four-year Ph.D. student fellowships over the next five years.
"By bringing together thoughtful academics, WVU's Center has the potential to make significant contributions to our understanding of free societies and how they help people improve their lives," said Richard Fink, president of the Charles Koch Foundation.