Show Notes
Capitalism as an economic system has been around in various forms for over a thousand years and according to our featured guest this week, it keeps evolving. Join us for a lively and challenging discussion between Ralph and Harvard history professor, Sven Beckert, as they discuss his book “Capitalism: A Global History.” Sven Beckert is the Laird Bell Professor of History at Harvard University. He has written widely on the economic, social, and political history of capitalism. His book Empire of Cotton won the Bancroft Prize and was a finalist for the Pulitzer Prize. His latest book is Capitalism: A Global History. Capitalism has existed within a whole range of political systems of organizing political power. And this includes authoritarian regimes; this includes fascist regimes; and this includes also liberal democratic regimes such as Great Britain and the United States. And you see this kind of tension emerging today within the United States in which there is a kind of concern, I think, among some capital-owning elites about liberal democracy. They see that as being limiting to some of their business interests. Sven Beckert
In a way, the book tries to not make us to be just powerless cogs in a machine and not powerless cogs in the unfolding of history. But the book very much emphasizes that the particular shape that capitalism has taken at any particular moment in time has a lot to do also with questions of the state. It has a lot to do with questions of political power. It has a lot to do with questions of social contestation. And sometimes capitalism has been reshaped drastically by the actions of people with very little power. And I show that in particular when I look at the end of the slave-based plantation economy in the Americas, which is very much driven by the collective mobilization of some of the poorest and most exploited people on planet Earth—namely the enslaved workers who grow all that sugar and all that cotton or that tobacco in the 16th, 17th, 18th, and 19th centuries. Sven Beckert
I think markets and market activities have existed in all human societies. That is not particular to capitalism. And the few efforts in world history in which people have tried to get rid of the market in its entirety have been pretty much economic disasters. So there is a place for the market. There has been a place for the market in all human societies. But in capitalism, the market takes on an importance that it didn’t take on in other forms of economic life… I think it is so important to think about this, because, as I said earlier, capitalism is not natural. It’s not the only form of economic life on planet Earth. Indeed, it’s the opposite. It’s a revolutionary departure from older forms of the organization of economic life. Sven Beckert
Trump seems really concerned about impeachment because it’s beyond his control. And he sees if (with inflation) the economy starts going down more, unemployment up, prices up, all these campaign promises bogus, polls going down—he fears impeachment. And I’ve yet to hear him say if he was impeached and removed from office, he wouldn’t leave the White House—while he’s defied all other federal laws, constitutional provisions, and foreign treaties. Ralph Nader
News 1/30/26 * Following the murders of U.S. citizens Alex Pretti and Renée Good by ICE agents in Minneapolis – along with the shooting of Julio Sosa-Celis, the abduction of 5-year-old Liam Ramos along with his father, and the arrest of an estimated 3,000 people – the Minnesota AFL-CIO called a General Strike for workers to demand ICE leave the state. This one-day general strike, staged during temperatures of -20°F, drew as many as 100,000 workers into the streets, according to Labor Notes. Participating unions included the SEIU, AFT, and the CWA, along with UNITE HERE Local 17, OPEIU Local 12, IATSE Local 13, and AFSCME Council 5, among many others. Minneapolis has been the site of major labor actions before, perhaps most famously the
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Ralph welcomes Dr. Alison Galvani, the founding director of the Yale Center for Infectious Disease Modeling and Analysis, and co-author of the forthcoming article, “Projected Economic Gains and Lives Saved Under Universal Health Care in the United States.” Then our constitutional law expert, Bruce Fein, stops by to tell us about a letter he and Ralph sent to states Attorneys General urging them to prosecute Donald Trump for exhorting his followers to commit voter fraud in the forthcoming midterm congressional elections. Finally, we respond to your feedback on how to be a smart voter. Alison Galvani is the founding director of the Yale Center for Infectious Disease Modeling and Analysis and the Burnett and Stender Families Professor of Epidemiology at the Yale School of Public Health, Yale School of Medicine. She has applied her modelling and health economics skills to address public health challenges including HIV/AIDS, Zika, Ebola, influenza, and COVID-19. And she is co-author of the forthcoming article “Projected economic gains and lives saved under universal healthcare in the United States.” We analyze the American healthcare system as a national balance sheet. And on one side of the ledger, we have: covering the uninsured and expanding care for the uninsured (that costs money). And we took into account that utilization will increase for people that currently have inadequate health care… And when we initially started looking at this in 2019…I anticipated a hefty price tag as well. Our work has focused on the effectiveness and cost-efficiency of public health policy in the US and around the world, and usually we’re asking: How much will it cost to save lives? And we rarely get a no-brainer where you save money and you’re saving lives. Alison Galvani
Ralph speaks to Dr. Feroze Sidhwa for an update on the death toll in Gaza as well as the new documentary film “American Doctor.” Then Ralph and economic William Lazonick discuss Nvidia’s planned $235 billion stock buyback. Dr. Feroze Sidhwa is a general, trauma, and critical care surgeon in California. He is also a humanitarian surgeon who has worked in Palestine, Ukraine, Haiti, Zimbabwe, and Burkina Faso. He most recently volunteered at Nasser Medical Complex in Khan Younis, Gaza. He was blocked from entering Gaza by Israel’s Shin Bet intelligence service in November 2025. His work in Gaza is featured in the new documentary film American Doctor. If I’m remembering the exact time right, March of 2016 was the deadliest month for children that [Airwars] had ever studied anywhere—so that’s the 31 days of March of 2016. In the first 25 days of the US-Israeli assault on Gaza, the rate of killing of children was 71 to 142 times higher than in the deadliest month they had ever studied for children anywhere else. And just to put these numbers in a little bit of perspective…If you look at Russia’s invasion of Ukraine versus Israel’s invasion of Gaza, Russian forces killed the same percentage of children in Ukraine in 10 months as the US and Israel kill in Gaza every 18 to 37 hours. Dr. Feroze Sidhwa
Ralph welcomes Mary Berry the daughter of the late American novelist, poet, essayist, environmental activist, cultural critic, and farmer, Wendell Berry. Ms. Berry runs the non-profit Berry Center in New Castle, Kentucky, which serves as a repository for the study of small farm agriculture and preserves the legacy of her family’s work. Then, with the midterms on the horizon, Ralph and the team talk about how to be a smart voter. Plus, Ralph has some choice words for the U.S. Chamber of Commerce’s so-called “Free Enterprise Express.” Leave a comment about how you are a smart voter. We will collect these and discuss them on our next program. Click the button below to get Professor Laura Nader’s book Controlling Processes.
Ralph welcomes “New York Times” reporter Natasha Singer to discuss her new book, “Coding Kids: Big Tech’s Battle to Remake Public Schools.” Then, Ralph talks about Donald Trump’s midterm convention speeches and the latest impeachment drive with Constitutional law expert Bruce Fein. Natasha Singer is a New York Times reporter covering the intersection of technology, business and education. She has covered tech industry influence in schools for the New York Times for more than a decade, and her school tech reporting helped prompt California to enact a landmark student online data protection law. In 2019, she was part of a Times team whose tech coverage won a George Polk Award and was a Pulitzer Prize finalist for National Reporting. She is also the author of the book Coding Kids: Big Tech’s Battle to Remake Public Schools. It’s not about the companies immediately making money off schools. It’s about influencing kids, getting customers early and for life. But I think more importantly, it’s about imprinting Silicon Valley worldviews and values on young people. So that you get docile consumers who maybe aren’t worried about wholesale surveillance and data gathering, and docile employees who are not going to push back against being surveilled by their employer or using AI tools or having AI replace them. And so I think this story about tech companies capturing the classroom is not just about how they’re shaping learning. It’s about how some of the most powerful, wealthiest corporations on the planet are able to influence school systems. Natasha Singer