The Economics Show

In part one 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 how trust in the postwar world economic system is being lost and weigh the costs and consequences of that. Paul Krugman’s Cultural Coda: Quarterflash, ”Harden My Heart”- https://www.youtube.com/watch?v=TNFSED77-GMMartin Wolf’s Cultural Coda:The Beatles, “For No One”https://www.youtube.com/watch?v=ELlLIwhvknkSubscribe and listen to this series on The Economics Show on Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts. Episodes are also available on the FT’s YouTube channel.If you’d like to get in touch and ask Martin and Paul a question, please email [email protected] Read Martin’s FT column hereSubscribe to Paul’s substack hereThe Wolf-Krugman Exchange was produced by Sandra Kanthal and Mischa Frankl-Duval, and the broadcast engineer was Richard Topping. The sound engineer was Breen Turner. Manuela Saragosa is the FT’s acting co-head of audio.Read a transcript of this episode on FT.com

In a special six-part series of The Economics Show, Martin Wolf, the FT’s chief economics commentator, and Nobel Prize-winning economist Paul Krugman discuss the economic events reshaping the world in the wake of US President Donald Trump’s election. Subscribe and listen to this series on The Economics Show on Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts. Episodes will also be available on the FT’s YouTube channel.If you’d like to get in touch and ask Martin and Paul a question, please email [email protected] Read Martin’s FT column hereSubscribe to Paul’s substack here

Churchill never said “we will fight them in the spreadsheets…”. But maybe he should have done. The second world war, like every other war in human history, was decided by how each side allocated its resources. In this episode, Duncan Weldon, author of the new book ‘Blood and Treasure, The Economics of Conflict from the Vikings to Ukraine’, explains how countries have historically thought about the economics of war – and how the Ukraine war is changing that. He and host Soumaya Keynes also discuss how conflict shaped economic institutions and the modern world.Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Further reading: Vladimir Putin’s war economy is cooling, but Russians still feel richer: https://www.ft.com/content/485aba41-1148-4f2c-b0ab-97aac5e50727 Russia’s war economy fuels rustbelt revival: https://www.ft.com/content/559ca59f-7fdc-4c47-8e87-edb562acdc7b  Defence spending is up – but on all the wrong things: https://www.ft.com/content/11a6b844-fe57-4e39-86ba-bb04e839bf2f Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Original music and sound design by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com

The tit-for-tat tariff escalations between the US and China are on pause, at least temporarily. But if the world’s two biggest economies don’t make progress by July, they could return with a vengeance. How can the two parties make progress? And what does China actually want from the US? Soumaya Keynes speaks to Jay Shambaugh to find out. Shambaugh was the US Treasury’s undersecretary for international affairs under Joe Biden. In other words, he was in charge of the US’s economic relationship with China. He and Soumaya discuss how the Trump administration could negotiate with China, and how interwoven trade policy and national security have become.Clips: CNBC Television, PBS NewsFurther reading:Will Trump’s tariff climbdown save the US from recession?The markets are declaring tariff victory too soonUS-China trade war is pushing Asian nations to pick sides, ministers warnSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Original music and sound design by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com

US tariffs have sent financial markets into a frenzy in recent weeks, but how much should central bankers be taking trade into account when setting monetary policy? To find out, Soumaya Keynes sits down with Bank of England Monetary Policy Committee member Swati Dhingra – one of the committee’s more dovish members. They discuss why the UK’s open economy makes it more vulnerable to trade shocks, what Dhingra saw in the data that her MPC colleagues didn’t, and why she didn’t vote for an (even) sharper rate cut earlier this month.Further reading:Two BoE policymakers warn against rushing to further cut interest ratesBank of England vote split hits hopes for faster interest rate cutsBrexit lessons for Trump’s trade warSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Original music and sound design by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com

Donald Trump’s trade policies have put global markets through the mill in recent weeks. But his policies didn’t come from nowhere. Aspects of US protectionism preceded Trump’s second term – and countries across the world have been pushing for greater self-sufficiency for some time. Is this drive for greater self-sufficiency misguided? Is true self-sufficiency even possible? Or might the secret to economic security come from more co-operation, not less? The FT’s senior business writer Andrew Hill sits down with Ben Chu to discuss the findings from his new book: "Exile Economics: What Happens if Globalisation Fails." Chu is the policy and analysis correspondent at BBC Verify and was previously the economics editor of BBC Newsnight.For further reading:The old global economic order is deadBritain’s trade deal with Trump may not be good news for the worldTariffs are a bet on the free market rather than free tradeThe business lessons to draw from Trump’s dealmakingSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Andrew Hill. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Original music and sound design by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com