The economic as well as political and ideological crises and transformations of capitalist social formations have created a crisis for Marxist approaches. This affects their assumption about the necessity, desirability and possibility of social transformation, but also about the actors fighting them out and their activities. Thus, a far reaching reformulation of its fundamental epistemological and theoretical assumptions is necessary. This contribution argues that the crisis of Marxism demands a self-reflective engagement with conditions of Marxist theoretical work. The acknowledgement of the fundamental openness and incompleteness of Marxist social critique as well as its contested production is indispensable to avoid authoritarian forms of politics and to be implicated into the legitimation of domination again. The encompassing character of the crisis tendencies of capitalist social formations and the multiplication of fields of conflict demands to overcome a monistic interpretation of social dynamics. To conceptualise capitalist social formations as relation of relations is an indispensable precondition for the analysis of the connections between different social structures and relations of power and dominance. Furthermore, the ability of capitalist social formations to change, which has been shown by the recent crises and transformations, demands a fundamental dynamisation of the Marxist concept of reproduction. The dynamisation of relative surplus production in knowledge based capitalism moves the adaptability of the subjects and their capacity to work centre stage. Only against this background can the plurality of perspectives for emancipation and social struggles come into view for Marxist theoretical work.