Critical Social Theory and the Contemporary World

The far-reaching historical transformations of recent decades, including the decline of the Keynesian/Fordist organization of polity and economy in the West, the collapse of party-state command economies in the East, and the emergence of a neo-liberal capitalist global order, suggest that contemporary critical theory must be centrally concerned with historical dynamics and large-scale structural changes. The paper argues that these broad developments can best be apprehended by a theory premised on the Marxian theory of capital, but only if that category is fundamentally reconceptualized in ways that distinguish it from its usage in traditional Marxist interpretations.