Abstract: Using social property relations as an analytical framework, Robert Brenner interpreted Marx’s theory of the origin of capitalism as two independent stages of development: the “division of labor mode” and the “production mode”. On the basis of criticizing that the “division of labor mode” did not go beyond the commercialized interpretation path, he regarded the “production mode” as Marx’s breakthrough from the traditional interpretation mode in political economy criticism, which is also a symbol of his new exposition of historical materialism. Brenner’s new interpretation of Marx’s theory of the origin of capitalism, especially his criticism of traditional modes of interpretation, has a certain positive effect on understanding the particularity of historical development and re-understanding the origin of capitalism. However, due to the excessive emphasis on historical specificity and subjectivity, the “two-mode theory” inevitably obscures the generality of the laws of historical development and disconnects Marx’s thought development from continuity.