With the publication of “The Crisis of Western Societies” (1982), Cornelius Castoriadis returns to an early theme in his work by proposing that over the previous twenty years Western societies had begun to enter a new phase, one that could be considered to be a situation of crisis. In his earlier political thought—associated with Socialisme ou Barbarie—Castoriadis identified signs of a transition into this new phase, marked by a widespread bureaucratization of political decision-making that emerged alongside a general turn toward the privatization of social life. At the time of his revisitation of this theme, Castoriadis’s work had undergone what would be the first of two ontological turns: a turn that involved a radical rethinking of historicity, which understood the historical dimension of society as a socially contingent mode of creation that is central to the constitution of the world of a given society. This article reflects an articulation of his previous theme of crisis with regard to this broader rethinking of historicity throughout the 1970s, which extended political analysis into more foundational issues of social institution and cultural expression.