The Illusion of the Economic: Social Theory without Social Forms

Lacking a conception of the specific character of labor in capitalism, Critical Theory ascribed its consequences to labor per se. The frequently described shift of Critical Theory from the analysis of political economy to a critique of instrumental reason does not, then, signify that the theorists of the Frankfurt School simply abandoned the former in favor of the latter. Rather, that shift followed from, and was based upon, a particular analysis of political economy, more specifically, a traditional understanding of Marx’s critique of political economy. —Moishe Postone, Time, Labor, and Social Domination