Can Squid Game still critique capitalism after three seasons and a spinoff?

When Netflix first released Squid Game in 2021, the show's critique of capitalism was a subversive pop culture phenomenon. The Korean series follows Gi-hun as he participates in a deadly underground games tournament, where he and many others put their own lives up as ante to win a huge sum of cash.

But with the release of Squid Game's third and final season, can the show maintain its integrity — especially after Netflix has turned the property into a money-making machine? 

Today on Commotion, guest host Rad Simonpillai speaks with East Asian studies professor Michelle Cho and Vulture's culture critic Nicholas Quah about the new season of Squid Game and if it maintains its critical quality. 

We've included some highlights below, edited for length and clarity. For the full discussion, listen and follow Commotion with Elamin Abdelmahmoud on your favourite podcast player.

Rad: Michelle, talk to me about where Gi-hun's at in season three, and how his journey is serving this anti-capitalist criticism.

Michelle: So we start off season three, which is kind of a continuation, I would say, of the storyline of season two, with Gi-hun in a pretty dark place. Basically, he is at this point of utter disillusionment. Season one was all about him becoming aware of the fact that capitalism promises ethically uncomplicated wealth, but really there's no such thing. At end of season two, he's also become disillusioned with a solution, which would be revolutionary struggle, or an attempt to — as they say in Marxist criticism — seize the means of production. So that's not also the answer.

I think that the show has tried to complicate that easy binary from the get-go, especially by placing North Koreans both inside and outside the game. But Gi-hun has gone from the state of blissful ignorance, you know, "Oh, I can get wealthy with a windfall of lots of money," to this disillusioned despair. He knows now that capitalist inequity is cruel yet inescapable because it's set up to make us believe in fairness and equity. But really it's this predatory social Darwinist system that makes solidarity impossible, and that's where he leads us.

But season three tries to get us out of there. So it starts us off where Gi-hun is, and then tries to move us into something else.

Rad: Nicholas, you weren't a fan of the surprise twists [at the end]. Talk to me about why.

**SPOILERS AHEAD**

Nicholas: It should come to nobody's surprise that nothing ever ends well in this universe. So, ultimately, there is a situation in which a pregnant contestant gives birth to a baby. And Gi-hun, who we've been following as the protagonist — this really tortured protagonist — throughout the entire story, opts to sacrifice himself to let the baby win. In so doing, it provides a symbol of humanity, and I suppose it is a response to the cavernous traps of capitalism. So in that choice, there is an answer, or a non-answer, that is proffered by the series, which is that you can't really beat the system, or that the system's almost impossible to beat. You try and try and maybe you roll the dice with the next generation that may or may not be able to do the same thing. Or, if you really think about it, make the same choice at the end of their cycle. There is a very dour, very upsetting, cynical ending to the show — which, again, is contiguous with what the show is. 

But when you take a couple of steps back and you think about the limits of "political art" — which this is what is supposed to be — I think we're ramping up against the end times for this particular mode of critique, which is: you can illustrate the issue, you can illustrate the cavernous nature and the inescapable nature of capitalism. But there's a reason why Squid Game was originally written as a movie that became a really great one season, not unlike the way that Bong Joon Ho's Snowpiercer functions really well as a critique of capitalism, which is to say: it provides a symbolic answer. Snowpiercer spoiler: they blow up the entire train. And with Squid Game, it ends with this, like, "We may or may not be able to do this." But when you try to answer the question, you've got to have a theory. And Squid Game ultimately does not want to provide a path forward, or is unable to provide a path forward. 

And when you take even more steps back, the reason for this, probably, is because Netflix, its capitalist overlord, really wants this property to continue. So there's a way in which both the text and the meta-text of the show stabs itself in the foot. And I can't do anything but ask, "Why should I be giving time to this?" 

You can listen to the full discussion from today's show on CBC Listen or on our podcast, Commotion with Elamin Abdelmahmoud, available wherever you get your podcasts.

Panel produced by Jane van Koeverden.