Flyers owner, Koch bro give $6M for capitalist studies

Ed Snider, longtime owner of the Philadelphia Flyers (NHL) and chairman of Comcast-Spectacor, says he has given $5 million to the Robert H. Smith School of Business at Snider's alma mater, the University of Maryland, to fund the Ed Snider Center for Enterprise and Markets. Billionaire chemical magnate and political donor Charles Koch is kicking in another $1 million, Maryland says in this statement (link fixed)

The center will be run by Maryland's Prof. Rajshree Agarwal , an India-born student of "innovation and technological change." The granted millions will also help fund three tenured professors, students, staff. "Truly successful businesses are moral enterprises, resulting from productivity, integrity and a sense of purpose," Agarwal said in a statement. The Snider center will "explor(e) the institutions that affect human enterprise, thereby impacting the prosperity and wellbeing of individuals and societies."

UPDATE: I asked Prof. Agarwal a note how scholars manage conflicts if they ever conflict with donors' ideas. Snider traces his, partly, to his reading of Ayn Rand. She wrote back: "I cannot speak for Mr. Snider and Mr. Koch regarding their views. As for myself, I have pursued research in innovation and entrepreneurship because I believe that truly successful businesses are moral enterprises, resulting from productivity, integrity and a sense of purpose. Human enterprise, when done right, is not only a personal achievement, but also benefits society by filling needs,solving problems and creating jobs."

Snider called his gift a "homecoming" to UMD: "My vision for today's college students is that they are armed with those skills, motivations and freedoms that I was and that enabled me to create value and opportunity for others through my various business endeavors," he said in a statement. Son of a Washington, D.C. grocery owner, Snider says he "applied myself when opportunity knocked, and I innovated as I went along."

"Mr. Snider is one of our most successful alumni," UMD president Wallace Loh said in a statement. "The new center will help our students understand the way organizations can allow creative ideas to flourish." Snider Center research will "address important questions regarding the ability of individuals to lead fulfilling and productive lives," added Charles Koch Foundation President Brian Hooks; it will "explore the history and philosophy of enterprise, markets and institutions," said business school dean Alexander Triantis.