Members Only - FT Unhedged: Martin Wolf on the economics of populism

Populist economics may feel like a shortcut to prosperity - but history shows it always comes with a price. In this week’s Unhedged podcast, FT’s Robert Armstrong and Martin Wolf unpack how Donald Trump’s “America First” policies have kept the US economy humming for now - even as they quietly erode the very institutions that make long-term growth possible. From Argentina’s century-long populist trap to Washington’s new era of protectionism, Wolf warns that the real danger isn’t collapse - it’s slow decay. America’s economy may still look strong, but beneath the surface, the frogs are already boiling.

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