The Dangers of Censory Capitalism

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In the late 1990s and early 2000s, you were already seeing intimations of the crisis to come. The Asian financial crisis in 1997 made me realize that finance really was very dangerous. So what ultimately happened was much bigger than I imagined. Thousands of Norton Rock savers have withdrawn cash via the internet despite reassurances from the bank.

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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