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The Decline of the Left in the 20th Century Toward a Theory of Historical Regression THE ABANDONMENT OF EMANCIPATORY POLITICS in our time has not been, as past revolutionary thinkers may have feared, an abandonment of revolution in favor of reformism. Rather, because the revolutionary overcoming of capital is no longer imagined, reformism too is dead. As the task of achieving human society beyond capital has been abandoned, nothing worthy of the name of politics takes its place, nor could it. The project of freedom has now altogether receded from view. For, while bourgeois thinkers like Hegel were no doubt mistaken in their identification of capital with freedom, they nevertheless grasped that the question of freedom only poses itself with reference to the capital problematic.