Ronald E.

Political economy seeks to answer questions around the origins, reproduction, and accumulation of capital and about prices, wages, and surplus value.

Jessop suggested that corporatism was initially formulated as an ideological critique of liberal capitalism; later it became less ideological and more practical in form, as it did not so much oppose capitalism as struggle against the rise of labor and seek new forms of interest.

Like the classical form of liberalism, neoliberalism emphasizes freedom in terms of individual autonomy and pursuit of material gain in the marketplace. Neoliberals favor banishing government from the economic arena. They would privatize the economy free markets of regulations, and open up the national economy to international trade and foreign investment and would cut government social spending and welfare programs. In effect, they would favor the market over the state.