On Friday afternoon, October 26, 2012, the Alexander Hamilton Institute for the Study of Western Civilization (AHI), the AHI’s Entrepreneurship Club, and the Hamilton College Chapter of the Alpha Delta Phi Fraternity co-sponsored a panel discussion on the function of “private equity” in a capitalist economy. Presenting on the panel were Howard D. Morgan, Co-President of Castle Harlan, a private equity investment firm; Bob Hamill, Managing Director, Jefferies & Co., a global securities and investment banking group; and Charles P. (Chad) Graves III, Executive Director, Consulting Group, Morgan Stanley. Mr. Morgan is also a charter member of the AHI’s Board of Directors. AHI Charter Fellow James Bradfield, Elias W. Leavenworth Professor of Economics Emeritus at Hamilton College, moderated the panel. Each panelist was graduated from Hamilton College in 1984; each is a brother of the Alpha Delta Phi Fraternity, and each works in the financial industry in New York. Mr. Graves holds an MBA degree from Columbia University; Mr. Hamill and Mr. Morgan hold MBA degrees from Harvard University. Professor Bradfield is also a brother of the fraternity. He taught economics at Hamilton from 1976 until his retirement in June, 2012.