To panic or not to panic?

What's happening to our cosy capitalist society?

Billions of dollars simply evaporated from stock values this week thanks to dubious beancounting at Worldcom and Xerox.

In America - the strutting Charles Atlas of World Economies - there is "a crisis of capitalism" according to some commentators.

So what does that mean for little old us, three thousand miles away? PANIC shouts the Express. DON'T PANIC advises the Times. What's happening to the cosy capitalist society we thought we all knew? We try to find out.

Also, Angus Crawford investigates what its like to be on the receiving end of a hostile press, and more news about our thrilling summer competition.

And finally, the more astute amongst you will have realised by now that Eddie Mair is away. He's taking his allotted fortnight in a timeshare caravanette just outside Weston-Super-Mare, do give him a wave if you see him parked in the lay-by on the A370.

Regards,

Richard Lister

Using the audio box on the top right of this page, listen to the Broadcasting House discussion on the future of global capitalism with Robert Kelsey, the author of "The pursuit of happiness: Overpaid, Oversexed, and Over There", Ruth Lee, Head of Policy at the Institute of Directors, and the writer and academic Alex Callinicos, one of the contributing authors to "Anti Capitalism: A Guide to the Movement".