This chapter discusses the latest policy of MerdekaMerdeka Belajar-Kampus MerdekaKampus Merdeka (MBKMMBKM) released by the Ministry of EducationEducation in 2019 and immediately implemented during the pandemic. The program packages in this policy clarify the face of neoliberalism in the university system. Economic logic has legitimized its implementation, such as high unemploymentunemployment data for university graduates and the narrative of graduates’ mismatch with the job market. Through BourdieuBourdieu’s conceptual triad approach (habitushabitus, field, and capital), MBKM forms a traditionaltraditional academic habitus that is oriented toward the intrinsic valueintrinsic values of knowledge that is confrontedconfronted with demands to adopt entrepreneurial and market-oriented dispositions that are considered more relevant to the needs of the global economy. Besides that, MBKM has changed the rules of the game that determine the distribution of value and status within the academic community and the relativerelative devaluation of knowledge capital into economic gain. However, this contradiction of habitus in the academic field has also produced hysteresishysteresis between universities and academic resistance. Rather than offering a substantive liberation from the constraints of traditional higher education in official rhetoricrhetoric, MBKM essentially represents an intensification of higher education’s subordination to the logic of the market and capital accumulation.