The departure point of this article is that however one conceives the practice of American Studies one has to recognize that it is a disciplinary practice. In accordance with this contention the author proceeds to discuss the notion of the discipline as such before he goes on to ask and answer the question: “How do American Studies constitute themselves?” The author argues that American Studies, like other disciplines, constituted itself by objectifying an exceptional polity. The crux of his argument is that this self-constitution was founded on an act of erasure, whereby the evidence of capitalism was elided from the research agenda of the discipline. Contending that this erasure is paradoxical considering that American Studies has as its ...