This paper suggests us a new analysis of the crisis of capitalism. Fraser’s analysis builds upon the theory of the economist and social theorist Karl Polanyi, argomenting Polanyi’s thesis of a double movement of marketization and social protections, reason of struggles and conflicts, with a third axis: emancipation and its struggles. By emancipation Fraser understands the struggle for self-determination and independence, which she theorizes as "the missing third". Thus, instead of Polanyi’s double movement, she speaks of a "triple movement". This threefold movement forms the core of her theoretical reflections which cast the current crisis of capitalist societies in a new light. In fact, each term of the triple movement as ambivalent and none of the three can be adequately grasped in isolation from the others.