The essay introduces the work of Robert Kurz and the somewhat marginalized species of value critique that he is associated with: Wertkritik. On the basis of a critical historiographical account of the “New Marx Reading,” it argues that the theoretical and political differences between Wertkritik and other value-critical currents cannot be glossed over or dismissed as mere territorial strife but must instead be understood as an expression of a more fundamental disagreement about the nature of capitalism and the role of “critique,” the distinctive feature of course being the insistence on a proper theory of crisis. The essay presents Kurz’s particular version of Wertkritik but argues against his abandonment of the notion of class struggle and proposes to supplement Kurz’s analysis with Théorie Communiste’s more historically grounded analysis of the present period of capital.