This paper explores how to consider the far right in historical-material and psychoanalytic perspective in the current conjuncture. Since the early post-Second World War interventions in this register, both the social relations of capitalism and psychoanalytic theory have evolved, while the problematic of the far-right had been somewhat marginalized as an object of research. This discussion revisits these broad concerns with attention to developments in the characterization of contemporary character structures and social relations. It examines two psychoanalytic approaches – drawn from Kohut and Lacan – that have been mobilized to examine the dominant character structures of late capitalism to consider their complementarity (and differences) with respect to certain psychological functions – defenses, affect and identification – that may offer insight into the far-right in the contemporary moment.