Beyond Profit: The Human Cost of Capitalism — with David McNally

Beyond Profit: The Human Cost of Capitalism — with Dr. David McNally Historian Dr. David McNally joins Dr. Richard Louis Miller to explore the deep relationship between capitalism, slavery, and community — and why the path forward may depend on reclaiming our capacity for cooperation and hope. Together, they trace how capitalism evolved from feudal systems, how slavery became its brutal engine, and how modern life still reflects those same dynamics of exploitation and insecurity. They discuss the moral cost of wealth built on oppression, the erosion of academic freedom, and the possibilities for new forms of collective ownership and economic justice. Through it all, McNally reminds us that hope is more powerful than anger and fear, and that history shows our greatest progress comes when people act together in community. Guest: Dr. David McNally — Cullen Distinguished Professor of History and Business at the University of Houston, and author of Slavery and Capitalism, Blood and Money, and Monsters of the Market. Key Topics: How capitalism emerged from feudalism through the expulsion of peasants from common lands Why slavery was not a premodern system but central to modern global capitalism The immense wealth generated by enslaved labor The psychological and moral consequences of exploitation Living paycheck to paycheck as a modern form of economic bondage How fear and insecurity maintain systems of control The importance of academic freedom and independent thought Collective action as the most powerful form of resistance Reviving the commons and exploring alternatives to capitalism Why hope remains the foundation of social transformation Timestamps: 00:00 — The Importance of Community and Connection02:22 — Understanding Capitalism and Its Historical Context07:20 — The Shift from Feudalism to Capitalism13:00 — Slavery in the Context of Capitalism20:11 — The Moral Dilemma of Enslavement24:07 — The Wealth Generated by Slavery24:47 — Exploring Alternatives to Capitalism29:00 — The Monopoly Game of Capitalism30:53 — The Power of Collective Action34:56 — Living Paycheck to Paycheck: A Modern Form of Slavery40:45 — The Assault on Academic Freedom50:19 — Freedom Dreams and Cultural Resistance This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.mindbodyhealthpolitics.org/subscribe