(Source: PRNewswire)COVER: The Future of Capitalism (All overseas editions). Senior Editor Rana Foroohar reports that there's a palatable sense that we are leaving the golden era of free markets, easy credit, high-risk deals, and big paydays, and entering a new paradigm of tight money, tough regulation, less speculation and more government meddling in markets. "At a fundamental level, the model of globalization and deregulation has blown up, and that's what's caused the current crisis," says investor and philanthropist George Soros, one of the first to sound a warning about the dangers of complex securitization of nearly everything from mortgages to credit-card bills. "We're now at the end of that ideology." The future, says Soros, will be "less freewheeling, less aggressively speculative, less leveraged, and tighter on credit. We're in the midst of a massive de-leveraging." While it's unclear yet how much help average Americans will get from the government's bailout package once details are finalized, what is clear is that the extremely free-wheeling capitalism of the past two decades is changing-if not into an entirely new ideology, then into a more moderate version of itself.

http://www.newsweek.com/id/162299

Name That Economy! Jacob Weisburg, editor in chief of The Slate Group and author of "The Bush Tragedy," writes on what we should call the new economic model that has emerged from this economic crisis. "Despite the collectivization of losses and risk, it doesn't qualify as even reluctant socialism. Government ownership of private assets is being presented as a last-ditch expedient, not a policy goal. Yet it's inaccurate to describe our economy either pre- or post-Paulson as simply laissez-faire. A system in which government must frequently intervene to protect the world from the results of private financial misjudgment is modified capitalism-part invisible hand, part helping hand."

http://www.newsweek.com/id/162294

The Fall of America, Inc. Francis Fukuyama, professor of International Political Economy at the Johns Hopkins School of Advanced International Studies, writes in a guest essay about the damage that the financial meltdown is doing to the American "brand." "Between 2002 and 2007, while the world was enjoying an unprecedented period of growth, it was easy to ignore those European socialists and Latin American populists who denounced the U.S. economic model as 'cowboy capitalism.' But now the engine of that growth, the American economy, has gone off the rails and threatens to drag the rest of the world down with it.