The Wolf-Krugman Exchange: Power, plutocracy and political economy
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 21 December 2025
⏱️ 44 minutes
🧾️ Download transcript
Summary
In this final episode of their series for the FT's The Economics Show, FT chief economics commentator Martin Wolf and Nobel laureate Paul Krugman consider listeners’ questions and comments ranging from a critique of globalisation, increasing inequality and plutocracy, the global appetite for US federal debt, China’s economic future and much more.
This is a repeat of an episode published on The Economics Show, a sister podcast of FT News Briefing, on December 17, 2025
Subscribe and listen to this series of The Economics Show on Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts.
Read Martin’s column here
Subscribe to Paul’s substack here
Find Paul’s cultural coda here.
Find Martin’s cultural coda here.
Produced by Mischa Frankl-Duval and Josh Gabert-Doyon. Manuela Saragosa is the executive producer. Tom Hannen is the video editor. Sound design and original music by Breen Turner.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:30.8 | Paul, hello, how are you? |
| 0:33.0 | I'm fine. It's snowing heavily in New York, but I am not in New York, so I am doing fine. |
| 0:38.9 | So today we're recording an episode that's a little different to the others in this series. |
| 0:45.1 | We've talked about Trump's America, we've talked about male employment in the U.S., and we talked |
| 0:51.1 | about China and Europe. But now we put the onus on you, the listener, to tell us |
| 0:57.0 | what to talk about. That's right. We're going to answer listeners questions, some of which |
| 1:01.9 | expand on subjects we've discussed, others that come a little more out of left field, and if I read |
| 1:07.8 | correctly, a few out of right field as well. Well, as you said before, Paul, the Q&A is often the best part. |
| 1:14.8 | So let's get going. |
| 1:18.4 | Hello, I'm Martin Wolf, Chief Economics Commentator at the Financial Times. |
| 1:23.3 | And I'm Paul Krugman, professor at the City University of New York, |
| 1:26.9 | and now an independent |
| 1:28.0 | newsletter writer on Substack. And welcome to the fourth and final episode of this series of |
| 1:34.1 | the Wolf Kroogman Exchange here on the economics show from the Financial Times. |
| 1:39.3 | So our first question is also a comment. It came via the video version of our podcast on YouTube and |
| 1:46.7 | ask whether what we're seeing happening in the US today is the inevitable backlash against |
| 1:52.2 | globalization. Let me read it to you. All problems of today can be traced back to the policies |
| 1:58.8 | of the 1980s. |
... |
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