Islam, the Quran, and the Islamic tradition, like Islamism in its founding and principal texts, are neither homogenous nor constant with regard to their judgments of the market economy, capitalism, and neoliberalism. Like all other religions, doctrines, and ideologies, they are subject to fluctuations, multiple appropriations, and reappropriations, both ambivalent and contradictory. An examination of the trajectory and political practices of the Moroccan Islamists of the Justice and Development Party empirically objectifies both the ambivalences and contradictions of institutionalized Islamism through the prism of neoliberalism, which it embraces but does not always publicly endorse.