Abstract
This article revisits the Frankfurt School’s reflections on race, anti-Semitism and fascism, focusing especially on the theory of race implicit in Dialectic of Enlightenment. It argues that this theory has the potential to be developed into a critical functionalist theory of race that avoids both class and race reductionism, offering a thoroughly intersectional competitor to currently dominant philosophies of race. The key to such a theory is the view that racialization plays a functional role in sustaining capitalist exploitation. While Horkheimer and Adorno focus on the scapegoat function of racialization, I argue that this function, while important, does not exhaust the possible functionalities of racialization and neglects an especially crucial function: the maintenance of a specifically racial form of exploitation.