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The provocation and point of this paper is that universities of the North during the era of neoliberalism of have been sucked of their human life-giving capacities. What remains are closed doors and bare walls. Lest we give the impression of a hopelessly romantic view of the university (and embark upon a lament for some paradise lost), let us be clear from the outset: there is no such place – and there never has been. As will be outlined below, a consideration of the history of the university reveals it was born and has persistently drawn its life breath from oxygen formed in the tension ridden mix of an impulse to human freedom and accommodation to powers of church, state and capital. But, we contend, history is now the witness to the almost complete dissolution of that tension: to the exhaustion of emancipatory impulses in the service of indoctrination, regulation and accumulation. In the church-state-capital triad, it is the latter that has emerged hegemonic. Importantly, we argue, its dominance has emerged with the rise of what Paul Baran and Paul Sweezy describe as monopoly capital: the move from competitive (small entrepreneurial business) forms to monopolistic (large corporate business) regimes of accumulation (Baran & Sweezy 1966). A central feature of monopoly capitalism is its need for significant financial support of national states and the harnessing of public resources such as universities to feed accumulation. It is no surprise that neoliberalism, despite its neoclassical economic pronouncements, is a ‘big state’ advocate (Harvey 2005). Our argument is that neoliberalism, as the political workhorse of monopoly capitalism, has overseen a makeover of universities so they might behave like a monopoly capitalist corporation. Our time is the time of the near global domination of capital. The university has succumbed. In its colonisation – its capitalisation – the university has not only reinvented itself as a willing ally of capital but has also set about remaking itself in its image.