Sven Beckert: How capitalism made the world

Is capitalism inevitable? This week, Prospect contributing editor Tom Clark is joined by Sven Beckert, Harvard professor and author of Capitalism: A Global History . Sven discusses the evolution of capitalism, from its development by Arab, African and Chinese traders, to its place in the modern western nation states of today. He argues that the economic system that rules our lives is a man-made one, which can be shaped and reshaped depending on political and economic will. The pair also discuss the prospects for working people in an era in which AI threatens to make many redundant, and whether rising authoritarianism in wealthy democracies like the US is linked to its economic system. And they explore the achievements and injustices of modern capitalism—its complicated history of growth and poverty reduction, alongside coercion and violence. To read Tom’s review of ‘Capitalism: A Global History’, click here Hosted on Acast. See acast.com/privacy for more information.

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Sven Beckert: How capitalism made the world is an episode from The Prospect Interview by Prospect Magazine.

This episode is 38:35 long.

This episode was published on Mar 25, 2026.

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