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Revision as of 19:00, 18 July 2004
Originally, the view that a "middle way" exists between communism and the free-market capitalism associated with Anglo-American societies. This view was developed in the 1950s by German ordoliberal economists such as Wilhelm Röpke, resulting in the social market economy.
The term was appropriated by politicians in the 1990s who wished to continue from the "left" Thatcher and Reagan's projects of economic deregulation, so that currently the Third Way is usually understood as a nickname for neoliberal social-economic policy. As such, it has become an important ideology in modern European democracies, especially by some Social-Democratic parties, as well as for some members of the United States Democratic Party. It gets its name from its alleged role as an alternative to both pure, free market capitalism and the kind of economic order represented by strong welfare states such as the Scandinavian countries and Germany, which are held to be too regulated and have too high rates of taxation to compete with economies run on free-market principles. Why it is that the latter run consistent trade surpluses, while the former run consistent trade deficits, so that it would appear that it is free-market economies, not well-regulated economies, that have trouble competing, is a problem that is never addressed.
Well known examples of politicians of the Third Way include:
- Former President of the United States Bill Clinton
- British Prime Minister Tony Blair
- German Chancellor Gerhard Schröder—Neue Mitte ("New Center")
- Spain's José Luis Rodríguez Zapatero—Nueva Vía ("New Way")
- Former Dutch Prime Minister Wim Kok
The "Third Way" of Blair and Zapatero stands for de-regulation, de-centralisation, lower taxes for multinational companies (which results in social degratiation and the privatisation of previously social welfare.
The general idea is the idea of Radical centrist politics
The term was used by Benito Mussolini to describe fascism as an alternative to communism and democracy.
See also: third way (other meanings of third way)
External link
- Why Tony is not a guitar-wielding facist dictator; The Guardian, July 1, 2003 - about Mussolini and Blair.