[2] He graduated Phi Beta Kappa from the University of North Carolina at Chapel Hill with a degree in business administration in 1971.

[5] Calling Atlas Shrugged "the best defense of capitalism ever written", Allison has seen to it that "the BB&T Charitable Foundation has given 25 colleges and universities several million dollars to start programs devoted to the study of Rand's books and economic philosophy".

[10] Allison penned the introduction to Why Businessmen Need Philosophy: The Capitalist's Guide to the Ideas Behind Ayn Rand's Atlas Shrugged, published in 2011.

[11] In September 2012, Allison released his own book, The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy's Only Hope.

[13][14] In October 2014, his second book, The Leadership Crisis and the Free Market Cure: Why the Future of Business Depends on the Return to Life, Liberty, and the Pursuit of Happiness,[15] was published.