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This study considers the relationship between race and class in capitalism and seeks to move beyond familiar positions. We argue that if we consider closely the interplay between the different moments and mediations of capitalist accumulation, we can see that racism and coloniality, in addition to class, crucially articulate the system’s fundamental intelligibility, both at the structural level and at the level of the phenomenology of schooling. Considering these effects in connection with the role of education as a moment of reproduction of labor-power points to a logic of injury that aims both to prepare and to demoralize. This reckoning argues for an epistemological shift that opens Marxism to a decolonial and pluriversal standpoint that builds from diverse global experiences.