In this article, we complicate common critical narratives about the neoliberalization of higher education by situating more recent trends within the genealogy of a modern/colonial global imaginary. By linking current patterns of "accumulation by dispossession" with histories and enduring architectures of racialized expropriation and exploitation, we consider both the strategic possibilities and inherent limitations of enacting resistance from within this imaginary. In particular, we engage the imperative to contest new configurations of dispossession while grappling with the ways that violent social relations have always subsidized public higher education. We suggest that facing such paradoxes may be instructive and open up new possibilities, and at the same time, this requires examination of existing investments and attachments.