This article examines two major attempts to revitalize Marxist class analysis in recent years. It provides a critical appraisal of both class structure analysis and dialectical and historical materialist analysis in assessing the applicability of Marxist class analysis to the study of contemporary capitalist society. It shows that going beyond an analysis of the class structure of advanced capitalism, the dialectical and historical materialist approach provides a dynamic analysis of society and social transformation that takes into account the changing nature of class relations and class struggle as we approach the twenty‐first centur