ABSTRACT
Critical social theory has not kept pace with the far-reaching global transformations of the past three decades. The intense and fruitful revival of Marxian thought and scholarship in the 1960s and early 1970s was followed by a very strong turn away from Marxism on the part of many theorists. The intellectual field became dominated by postmodernist and poststructuralist approaches that appeared plausible to many as critiques of Marxism. It has become increasingly evident, however, that such approaches do not adequately grasp the current epoch; they fail to elucidate the basic historical changes that have reconfigured the world in recent decades. Even major thinkers such as Habermas, Foucault and Derrida now appear as theorists of a fading historical configuration – declining Fordism; their critical approaches illuminate less and less of the contemporary social universe.
