Wall Street and The City like to operate under the flag of Adam Smith; his free market economic ideas are often considered to be a defining bedrock of capitalism. In reality, those financial capitalists today have completely forgotten the core essence of his ideas; indeed, their vision of capitalism and the modern company totally perverts them. Tett’s reformation is a call to arms for all devotees of Adam Smith – to return to his original ideas about market forces and reform that idea of capitalism in a fundamental manner. Tett is US Managing Editor of the FT and the author of The Silo Effect, Fool’s Gold and Saving the Sun. Chaired by Oliver Bullough.