Within the North American progressive education tradition, critical pedagogy has been a widely discussed project of educational reform that challenges students to become politically literate so that they might better understand and transform how power and privilege works on a daily basis in contemporary social contexts. As a project of social transformation, critical pedagogy is touted as an important protagonist in the struggle for social and economic justice, yet it has rarely ever challenged the fundamental basis of capitalist social relations. Among the many and varied proponents of critical pedagogy in the USA, Marxist analysis has been virtually absent; in fact, over the last decade, its conceptual orientation has been more closely aligned with postmodernism and poststructuralism. This paper argues that unless class analysis and class struggle play a central role in critical pedagogy, it is fated to go the way of most liberal reform movements of the past, melding into calls for fairer resource distribution and allocation, and support for racial diversity, without fundamentally challenging the social universe of capital in which such calls are made.