O hear the phrase tossed around in arguments, but what is the theory?

Is there actually a well-defined theory with a specific canon or is it a vague/disputed term?

I’ll probably regret asking this lol

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Critical Race Theory is part of Critical Theory. It comes from a normative approach to social sciences instead of positive approach (how things should be instead of just describing how things are). Recent big names in the field you may have heard of are Judith Butler, Byung-Chul Han, Foucault, and Zizek.

The tradition stems from Marx who invented/popularized normative approach to social sciences and philosophy. It is revisionism in that they brush aside many of Marx’s fundamental premises and conclusions. To be more concrete in my examples, Butler talks about gender/sexuality, Han talks about alienation under capitalism, Foucault talks about the mechanisms (capital) authority uses to control society, etc.

Although revisionist, I find their works to be interesting and helpful and a lot of their theories can be reincorporated into orthodox Marxism-Leninism without a problem imo. But we’re not mature enough to have this conversation yet.

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