Abstract
Foucault’s critique of early modern political theory aimed at displacing sovereignty as the principle of intelligibility of power. In the genealogical literature since Foucault, sovereignty has become a residual category lacking analytic specificity, largely displaced by governance, in turn equated with politics. We argue that Foucault and the Foucauldians have not understood that the flourishing of governance has presupposed a symbolic regime with a division of knowledge-power-law characteristic of the democratic sovereign. The conflation of governance with politics, together with the sliding of sovereignty under governance, has left Foucauldians unable to diagnose the dangers present in varying possible sovereignty-governance configurations.