June 15, 2011
In the US, Texas Tech University has received an anonymous $1.2m donation to enable it to establish a free market research institute.The gift will be used to launch the Institute for the Teaching and Study of Free Market Economics within Tech's economics department, and the university is currently looking to hire three new faculty members to staff the institute.
According to a statement, the new unit is expected to supplement the department's course offerings, support research, and encourage interdisciplinary dialogue on the behavior of free markets and the effects of marketplace intervention.
‘This gift will make an immediate impact in the College of Arts and Sciences,’ says Lawrence Schovanec, Dean of the college. ‘Faculty and student involvement in this institute will enhance scholarship in free market economics and will increase undergraduate and graduate student exposure to free market thinking.’