The 'third way' is a term often used by politicians and others to
indicate a set of new policies adopted by former social democratic
parties throughout the world. This book is an attempt to dissect
the ideas and economic theory behind the rhetoric of the 'third
way' through a critical evaluation of the experiences of 'third
way' administrations in a diverse range of countries.The editors
suggest seven elements which can help define the theoretical
economic foundations of 'third way' policies. They consider whether
there is a consistent economic approach underlying the 'third way',
and show that it is much influenced by New Keynesian economics. The
contributors to the book explore the policy experiences from ten
different countries, plus the European Union as a whole. Each
contribution provides an examination of the application and
implementation of 'third way' policies in a different country.
These contributions indicate the similarities of the policies of
the 'third way', though important differences in experience also
emerge. Providing an acute assessment and comprehensive
interpretation of the 'third way', whilst neither endorsing nor
dismissing its validity, this book should be widely read by
policymakers, political scientists, and those with an interest in
economic policy and economic analysis.
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