This chapter seeks to move beyond the economic costs and benefits of neoliberal reforms to explain how these policies disrupted the equilibrium of the Mubarak regime and eventually helped bring about its downfall. First, I will address the nature of historical corporatism, including how this arrangement of policies produced state-labor relations in Egypt. Next, I will explore structural adjustment, the wave of internationally-endorsed economic and political changes enacted from the 1980s until, with halting progress, the 2000s. From here, I review the main causal variables in “corporatist collapse” structural adjustment, flexibilization, and the erosion of political power of the unions.