In responding to Tony Novak's criticisms of his earlier article “The Class Analysis of Poverty,” the author makes four principal points. First, contrary to Novak's views, a class analysis of poverty should define poverty in terms of both income-poverty and asset-poverty. Second, while Novak is correct that the term “underclass” often has a pejorative meaning, it remains an important concept for identifying segments of the population that are deeply oppressed economically, but not exploited. Third, the concepts of class analysis must be elaborated at a variety of levels of abstraction, not simply the highest level of the pure “mode of production,” as is implied by Novak's arguments. Finally, class analysis must acknowledge and conceptualize the specific forms of complexity of contemporary class structures, which is impossible if it restricts its class concepts to a simple polarized notion.