Free markets have exponentially improved the well-being of humanity and lifted more people out of poverty than any government program. But severe inequalities persist, and gaps have widened in the past thirty years. Is this a problem in and of itself? Or only to the extent it is caused by unfairly distorting the market with the help of government – so-called “crony capitalism" – as opposed to the inherently unique capabilities of each individual? How should the law be structured to ensure a level playing field? -- This panel was presented at the 2016 National Student Symposium on Friday, February 26, 2016, at the University of Virginia School of Law. -- Welcome and Opening Remarks: Dean Paul Mahoney, Dean, David and Mary Harrison Distinguished Professor of Law, and Arnold H. Leon Professor of Law, University of Virginia School of Law. Introduction: Mr. Dan McBride, President, University of Virginia School of Law Student Chapter. -- Panel I: Capitalism and Inequality -- Featuring: Dr. Yaron Brook, Executive Director, The Ayn Rand Institute; Prof. Thomas Edsall, Adjunct Professor of Journalism, Columbia Graduate School of Journalism; Prof. Jason Johnston, Henry L. and Grace Doherty Charitable Foundation Professor of Law, University of Virginia School of Law; and Prof. Steven Teles, Associate Professor of Political Science, Johns Hopkins University. Moderator: Hon. Jerry E. Smith, U.S. Court of Appeals, Fifth Circuit.