The new generations of the Frankfurt School’s critical theory have contributed to the reappraisal of the (originally Hegelian) dichotomy of ethical life-morality, aiming at finding the proper standpoint of critique in one or the other. Indeed, the notion of social criticism seems to oscillate between immanent and transcendental interpretations, drawing on Hegel’s or Kant’s legacy. But why does such alternative remain so relevant from the perspective of social critique? This essay reviews the positions of leading figures in contemporary German critical theory regarding the relation between Sittlichkeit and Moralität, respectively, the works of Jürgen Habermas, Rainer Forst, Axel Honneth e Rahel Jaeggi. The analysis will consider three general criteria: the efficacy, openness and normativity of criticism. In conclusion, the essay claims that discourse theory still represents a viable theoretical response as it offers a critical perspective midway between immanence and transcendence.