Within capitalist modernity, `children' and `culture' were ideologically positioned as `sacred' in opposition to the `profane' sphere of commerce and industry. In the last quarter of the 20th century, this romantic construction of childhood as a time of enchantment was appropriated by the `children's culture industry' and re-inscribed as a marketing strategy. Capitalist childhood was reconstituted as a time of consumption. In invoking the myth of the `sacred child', however, capital also elicits ambivalence about the `profanity' of commercial intrusion into (...) the domain of childhood. Similarly, the narratives of `good' versus `evil' through which children's culture is organized can be deployed in opposition to the conditions under which global capital produces children's consumer goods. While the cultural tension surrounding the commercialization of childhood has diminished as money itself takes on the aura of the `sacred', the residual power of romantic mythology creates potential for critical engagement on the terrain of capitalist childhood. (shrink)