Neoliberalism conceptualized within different frameworks and different approaches because of its incomplete, uneven and contradictory presence. Some scholars studied it as a political economy process, while some see as a bunch of policies and reform programs. Some assert as a way of state formation and some insist on the governmentality aspect of the neoliberalism. Harvey’s “A brief history of neoliberalism” and Hardt and Negri’s “Empire” set the theoretical framework of the political economy, namely
Neo-liberalism is not really new at all. It is premised on the nineteenth-century liberal belief that unregulated markets, rather than the state or public institutions, will produce all of the social or public goods we need. This Neo-liberal ideology was grounded in the 'classical liberal tradition', which was primarily hailed by Adam Smith in his treatise, The Wealth