Luc Boltanski and Arnaud Esquerre have proposed a new way to think about capitalism. First, they develop a novel, pragmatic approach to value, which allows them to distinguish three distinctive «economies» within capitalism: industry, finance and what they call «enrichment». Then, they analyze a growing «enrichment economy», which encompasses markets in fine arts, limited-edition luxury goods, high-end collectibles and the creation and exploitation of national patrimonies, heritage sites and appellation controllée regimes. My essay details the originality and insightfulness of their contribution. But I also air doubts about what precisely the authors mean by capitalism; whether and in what sense they have offered a critique of it; and whether and in what respects their diagnosis clarifies the current conjuncture and the prospects for emancipatory struggle. I conclude by sketching an account that incorporates their contribution within a broader conception of expropriative-financialized capitalism and better discloses the potential for anticapitalist mobilization.