Accreditation
The academic programs offered by the Gordon Ford College of Business have maintained continuous AACSB International accreditation since 1982.
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Study of Capitalism
What is Capitalism?
There are two ways for an individual to gain wealth: create it, or take it from someone else who has created it. Capitalism is a way of organizing economic activity where individuals are free to create wealth, but not to take wealth by means of force or coercion.
Unlike energy, wealth can be created or destroyed. When people engage in voluntary transactions wealth is created. Each party in the voluntary transaction gives up something to the other party who values it more. To the contrary, when one party forces a transaction upon another, the second party loses wealth.
Capitalism is an economic system that allows voluntary exchange and protects people from force or coercion.
Economic Freedom
Capitalism represents economic freedom. When an individual is forced to work for the benefit of another, it is called slavery. When an individual is forced to give up their property to another, it is called theft.
No country on earth is practicing capitalism in its purest sense. Some countries, however, are more capitalist than others. The Heritage Foundation ranks countries around the world with respect to economic freedom.
Even within the United States, economic freedom varies widely between states. The Pacific Research Institute ranks US states with respect to economic freedom.
The Study of Capitalism
The WKU Center for the Study of Capitalism was established by a generous grant from the BB&T Corporation. The purpose of the center is to study and educate students, faculty, and the general public regarding the moral foundations of capitalsim.
