The Importance of Recognizing the Worst Could Happen

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My father left Vienna in 1937 to come here. That was before the Anschluss, but he thought he had to go and he took the trace. My grandfather's story is more remarkable still. He was a fish merchant. It was quite successful after he grew up in Amsterdam. There he was leading quite a prosperous life,. In May 1940, of course, the Germans invaded. At once, in a way we still don't quite know how. So later that day, he, with his family, sailed to England, where they survived. Every single one of his wider family's members were killed - 30 of them.

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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