What if slavery wasn’t America’s past, but capitalism’s business model?
Historian David McNally (author of Slavery and Capitalism: A New Marxist History) joins economist Clara Mattei to uncover how plantation slavery powered global capitalism, why coercion (not “free markets”) is the system’s core, and how exploitation survives today through austerity and war, from the shop floor to Gaza.
We explore:
• Slavery as modern business, the roots of today’s exploitation
• Enslaved people’s stolen labor as the engine of modern wealth
• Why “innovation” means faster extraction of unpaid labor
• Austerity as state-enforced market dependence
• Militarism as permanent demand (and profit)
• Resistance from below, freedom won, not given
This conversation breaks the Lincoln myth, centers enslaved people’s self-emancipation, and asks what real freedom requires now.

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Learn more in David McNally’s new book Slavery and Capitalism: A New Marxist History:
www.ucpress.edu/books/slavery-and-capitalism/hardc…

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00:00:00 - Introduction
00:02:20 - The Liberal Narrative and the Global Financial Crisis
00:03:56 - Capitalism and the Market in Human Labor
00:04:41 - Slavery and Capitalism
00:07:56 - The Standpoint of Production
00:10:21 - The Liberal Narrative of Progress
00:14:32 - The Fragility of the Slave System
00:15:07 - Innovation and Exploitation in Capitalism
00:16:12 - The Role of Innovation in Intensifying Labor Exploitation
00:16:59 - The Efficiency of Exploitation and Degradation of Human Labor
00:20:14 - The Concept of Unpaid Labor in Capitalism and Slavery
00:22:53 - The Logic of Capitalism and the Struggle for Life
00:24:50 - The Power of Slaves and Workers in Reacting to Capitalism
00:25:09 - The Political Economy of Death and the Rebellion for Life
00:30:12 - Reclaiming Time for Life and Social Reproduction
00:33:21 - The Role of Slaves in Abolishing Slavery
00:34:12 - The Power of Resistance and Insurgency
00:38:52 - The Emancipatory Insight of Capital as a Social Relation
00:39:57 - Preserving Capital as a Social Relation Post-Slavery
00:41:04 - The Role of Law in Protecting Capital
00:45:14 - The Coercive Nature of Capitalism
00:46:43 - The Struggle for Workers' Rights and Democracy
00:47:11 - The Unfinished Path to Freedom
00:47:23 - The Logic of Capital and Government Policies
00:48:39 - Alternatives to Slavery and Capitalism
00:49:04 - Examples of Alternatives and Resistance
00:50:56 - The Importance of Imagining Alternatives
00:52:25 - The Persistence of Resistance
00:53:19 - The Ongoing Struggles and Settler Colonialism
00:54:20 - The Political and Economic Interests Behind Oppression
00:55:21 - The Global Impact of Resistance
00:56:28 - Affirming Life Against the Machinery of D
Transcripts
Show transcript