The crisis of trust was at the heart of the Future of Capitalism debate at the London Stock Exchange among Shell chief Jorma Ollila and WPP boss Sir Martin Sorrell . Observers including outgoing LSE boss Dame Clara Furse and former civil service boss turned corporate adviser Lord Turnbull enjoyed the banter at the FT event between Sir Martin and the very Finnish Mr Olilla. Sir Martin stuck to his gloomy prognosis: "We screwed up and we have to pay the consequences today and it's only right that government should have the requisite degree of control. My view is they will screw it up too . . . a mixed system will be just as ineffective as it was in the 1970s," as he recalled the three-day week.

Mr Olilla said the turning point came for him when he read former GE supremo Jack Welch 's reversal on the "shareholder value" model. To view the debate go to ft.com.