In this episode of the Business and Society Podcast, Senthil speaks with Sven Beckert about his sweeping new book, Capitalism: A Global History. Spanning nearly a millennium, the conversation challenges conventional narratives of capitalism as a purely Western or modern phenomenon. Beckert traces its origins to early global merchant networks—from the Arabian Peninsula to South Asia—and explains how capitalism was “born global,” long before the term globalization entered modern discourse. Together, they unpack how capitalism evolved from small “islands of capital” into a dominant global system, shaped not just by markets but through deep entanglements with state power, empire, and the transformation of the countryside through commodities like cotton and sugar.

The episode also confronts capitalism’s more difficult histories, including slavery and exploitation, while acknowledging its role in driving unprecedented economic growth, technological progress, and social mobility. Beckert emphasizes that capitalism is not a fixed system but an adaptive, undogmatic one—capable of both profound harm and meaningful reform. Looking ahead, the conversation turns to the future: how societies might better distribute the gains of growth, address inequality, and navigate environmental limits. Ultimately, this episode invites listeners to see capitalism not as inevitable, but as a human-made system—one whose next chapter can still be shaped through informed choices and collective action.

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