Two decades ago, problems of alienation and fetishism were the focus of most English speaking studies of Marx’s philosophy. More recent work on Marx and Marxist themes has tended to avoid these questions in favor of discussions of explanation, exploitation, distributive justice and problems of class formation and co-ordination. The latter set of problems seem more readily addressable, if not always more tractable, using contemporary tools drawn from the philosophy of science, as well as methods of decision theory, game theory, and welfare economics. But the change in emphasis has not been without costs; gains in clarity and rigor have come at the price of abandoning Marx's most fundamental criticism of capitalism as a way of life. I shall argue that it is no coincidence that the shift to ‘rational choice’ Marxism has had precisely that cost.