The new social movements pose a direct challenge to Marxist theories on what should be their most secure terrain-their ability to identify the main lines of social division and conflict and to explain the broad contours of historical change in the advanced capitalist world. Many writers have seen French regulation theory as promising a reinvigorated Marxism that avoids the pitfalls of functionalism, teleology, false totalization, and class reductionism while simultaneously offering a convincing analysis of phenomena such as the new social movements. Yet German analyses of the new social movements as responses to the contradictions and crises of the Fordist mode of regulation reveal not only the strengths but also the limits of the regulation perspective. In contrast to the abstract presentations of their own perspective, regulation theorists tend to interpret social formations and historical change in terms of all-encompassing totalities. The regulation approach can remain relevant for understanding conflict and change in contemporary capitalist societies only by relinquishing such totalizing ambitions. More generally, Marxism can only remain viable if it allows its central conceptual mechanisms to coexist with a range of heterogeneous theoretical mechanisms, that is, if it acknowledges the difference between the levels of theory (abstract) and of explanation (concrete).My argument is presented in four parts. The first sketches the specific problems posed by the new social movements for traditional Marxist theory. The second section discusses the major attempts to analyze the new social movements in terms of revised versions of traditional Marxism. The most convincing of these approaches, regulation theory, is discussed in the third part. Here I focus on the work of Joachim Hirsch and Roland Roth, especially their book, Das neue Gesicht des Kapitalismus (1986), which presents an interpretation of the development of the new social movements in West Germany between the 1960s and the 1980s. In section four, I sketch an alternative interpretation of the German new social movements, suggesting that they I am grateful to Julia Adams, Julia Hell, Doug McAdam, Moishe Postone, members of the CSST seminar at the University of Michigan, and an anonymous reviewer for comments on an earlier version of this paper.0010-4175/94/1769-0500 $5.00