Contemporary LGBT and queer identities are relatively new human phenomena shaped particularly by the development and expansion of capitalism—on the one hand creating the conditions for identities and communities based on individual desire, and on the other creating new forms of repression and restrictions upon society as a whole through the discrimination of LGBTQ people. By exploring how capitalism created and shaped gay identity, this discussion aims to take on such question as: What effect has gay identity had on our organizing efforts against exploitation and oppression? What openings exist today to lay the basis for sexual and gender liberation for all?