In the fifth of this six-part series of The Economics Show, Martin Wolf, the FT’s chief economics commentator, and Nobel Prize-winning economist Paul Krugman discuss the way American politics is crashing against both the guardrails of a stable, democratic system and the rules and norms of the postwar economic order and how this could jeopardise the importance of the US on the world stage.

Paul Krugman’s Cultural Coda:

Stephen Sondheim: "We had a good thing going"

https://www.youtube.com/watch?v=NTbrbiM-slg&list=RDNTbrbiM-slg&start_radio=1

Martin Wolf’s Cultural Coda:

Jonas Kaufmann: Freiheit from Beethoven’s Fidelio

https://www.youtube.com/watch?v=GvfhmGsFMEo

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The Wolf-Krugman Exchange is produced by Sandra Kanthal. The broadcast engineer was Rod Fitzgerald. The sound engineer is Breen Turner. Manuela Saragosa is the FT’s acting co-head of audio.

Read a transcript of this episode on FT.com

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Preston Sturges: Crooked But Never Common (feat. Stuart Klawans)