Third Way | Wikipedia audio article
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Date: 2018-11-28

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Third Way

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SUMMARY
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The Third Way is a position akin to centrism that tries to reconcile right-wing and left-wing politics by advocating a varying synthesis of some centre-right economic and some centre-left social policies. The Third Way was created as a re-evaluation of political policies within various centre-left progressive movements in response to doubt regarding the economic viability of the state and the overuse of economic interventionist policies that had previously been popularized by Keynesianism but at that time contrasted with the rise of popularity for economic liberalism and the New Right. The Third Way is promoted by social liberal movements.Major Third Way social democratic proponent Tony Blair claimed that the socialism he advocated was different from traditional conceptions of socialism and said: "My kind of socialism is a set of values based around notions of social justice...Socialism as a rigid form of economic determinism has ended, and rightly". Blair referred to it as "social-ism" that involves politics that recognized individuals as socially interdependent and advocated social justice, social cohesion, equal worth of each citizen and equal opportunity. Third Way social democratic theorist Anthony Giddens has said that the Third Way rejects the traditional conception of socialism and instead accepts the conception of socialism as conceived of by Anthony Crosland as an ethical doctrine that views social democratic governments as having achieved a viable ethical socialism by removing the unjust elements of capitalism by providing social welfare and other policies and that contemporary socialism has outgrown the Marxist claim for the need of the abolition of capitalism. In 2009, Blair publicly declared support for a "new capitalism".The Third Way supports the pursuit of greater egalitarianism in society through action to increase the distribution of skills, capacities and productive endowments while rejecting income redistribution as the means to achieve this. It emphasizes commitment to balanced budgets, providing equal opportunity which is combined with an emphasis on personal responsibility, the decentralization of government power to the lowest level possible, encouragement and promotion of public–private partnerships, improving labour supply, investment in human development, preserving of social capital and protection of the environment. The Third Way has been criticized by conservatives, classical liberals, and libertarians who advocate laissez-faire capitalism. It has also been heavily criticized by social democrats, democratic socialists, anarchists and communists in particular as a betrayal of left-wing values. Specific definitions of Third Way policies may differ between Europe and the United States.