The Political Corollary to the Failures of Macroeconomic Policy

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Do you think it's a coincidence that the US and the UK in particular experienced especially virulent strains of the populist bacillus? I don't think so. The obvious question is why they did. My hypothesis is that what they really shared was this enormous reliance on the lionization of the financial sector and it let them down.

In the first of this four-part series, the renowned FT columnist and economist Martin Wolf tells the FT’s executive opinion editor Jonathan Derbyshire why he fears the marriage of liberal economics and democracy may be facing its toughest test in decades. Drawing on arguments in his latest book, The Crisis of Democratic Capitalism, Martin explains how his own life story and career have shaped his views.

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Martin Wolf: in defence of democratic capitalism

For Martin’s FT columns click here

For the FT review of Martin’s book click here

This episode is presented by Jonathan Derbyshire. The producer is Laurence Knight. The executive producer is Manuela Saragosa and the sound engineer is Breen Turner. The FT's global head of audio is Cheryl Brumley.

Clips: BBC, CNN, Fox News

Read a transcript of this episode on FT.com

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