Why The Third Way Failed

In the wake of the economic crash, public policy is in search of a new moral compass. This book explains why the Third Way's combination of market-friendly and abstract, value-led principles has failed, and shows what is needed for an adequate replacement as a political and moral project. It criticises the economic analysis on which the Third Way approach to policy was founded and suggests an alternative to its legalistic and managerial basis for the regulation of social relations.

The idea of finding a 'third way' in politics has been widely discussed over recent months - not only in the UK, but in the US, Continental Europe and Latin America. But what is the third way? Supporters of the notion haven't been able to agree, and critics deny the possibility altogether. Anthony Giddens shows that developing a third way is not only a possibility but a necessity in modern politics.

The idea of finding a 'third way' in politics has become a focus of discussion across the world. Political leaders, in the US, Europe, Asia and Latin America claim to be following its principles. Yet the notion has also attracted much criticism. Some say it is an empty concept without any real content. Critics from the more traditional left argue that it is a betrayal of left-wing ideals. Anthony Giddens's The Third Way (Polity Press, 1998) is regarded by many as the key text of third way politics. Translated into twenty-five languages, it has shaped the development of the third way. In this new book Giddens responds to the critics, and further develops the ideas set out in his earlier volume. Far from being unable to deal with inequalities of wealth and power, he shows, third way politics offers the only feasible approach to these issues. The work is indispensable for anyone who wants to understand the most important political debate going on today. Anthony Giddens is the Director of the London School of Economics and Political Science. He is the author or editor of over thirty books. His previous works, especially Beyond Left and Right (Polity Press, 1994) have influenced debates about the future of social democracy in many countries across the world. Frequently referred to in the UK as Tony Blair's guru, Giddens has made a strong impact on the evolution of New Labour.

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.

"Despite the market triumphalism that greeted the end of the Cold War, the collapse of the Soviet empire seemed initially to herald new possibilities for social democracy. In the 1990s, with a new era of peace and economic prosperity apparently imminent, people discontented with the realities of global capitalism swept social democrats into power in many Western countries. The resurgence was, however, brief. Neither the recurring economic crises of the 2000s nor the ongoing War on Terror was conducive to social democracy, which soon gave way to a prolonged decline in countries where social democrats had once held power. Arguing that neither globalization nor demographic change was key to the failure of social democracy, the contributors to this volume analyze the rise and decline of Third Way social democracy and seek to lay the groundwork for the reformulation of progressive class politics. Offering a comparative look at social democratic experience since the Cold War, the volume examines countries where social democracy has long been an influential political force--Sweden, Germany, Britain, and Australia--while also considering the history of Canada's NDP, the social democratic tradition in the United States, and the emergence of New Left parties in Germany and the province of Québec. The case studies point to a social democracy that has confirmed its rupture with the postwar order and its role as the primary political representative of workingclass interests. Once marked by redistributive and egalitarian policy perspectives, social democracy has, the book argues, assumed a new role--that of a modernizing force advancing the neoliberal cause." -- Publisher's website.

The Third Way is said to be the guiding philosophy for New Labour and center-left parties and governments across the globe. Moving beyond attempts to define and defend the Third Way, this innovative collection embarks on a critical examination of this key concept. The editors draw on expert contributions from a range of disciplines and perspectives to dissect the Third Way in theory and in practice, assess its legacy and suggest alternatives. The book begins by reviewing attempts to define the Third Way. It then examines what the Third Way implies for our understanding of the economy and the state, before critically addressing the philosophical and practical implications of its attempt to use the term "community." The final section deconstructs Third Way rhetoric and discourse. The conclusion reviews how these critical insights might form a basis for alternative political projects.

The Third Way is the political philosophy of Tony Blair and New Labour in Britain, Bill Clinton in the United States, and Gerhard Schroder in Germany. Defended most forcefully by Anthony Giddens, it claims to offer a strategy for renewing the Centre Left that avoids the free-market liberalism of the New Right and the state socialism of the Old Left. In Against the Third Way Alex Callinicos develops a fundamental critique of this philosophy. He argues that Third Way governments have continued the neoliberal policies of their conservative predecessors. They have promoted the interests of the multinational corporations, privatized areas where Ronald Reagan or Margaret Thatcher dared not go, and allowed social and economic inequality to continue growing. Callinicos also attacks the theoretical underpinnings of the Third Way. He challenges the idea that the 'knowledge economy' is freeing us from the contradictions of capitalism, denies that New Labour has coherent strategies for achieving greater equality or reconciling the interests of individual and community, and argues that what is called 'political globalization' - the higher profile of international institutions such as NATO, the IMF, and the WTO - masks the assertion of American imperial power. The best hope for the Left, Callinicos contends, lies in the emergence of an international movement against global capitalism with the protests at Seattle, Prague, and elsewhere. Those who want to see real change should be challenging the logic of the market rather than, like Blair and Clinton, extending its dominion.

"One of the most important political books of 2018."—Rod Dreher, American Conservative Of the three dominant ideologies of the twentieth century—fascism, communism, and liberalism—only the last remains. This has created a peculiar situation in which liberalism’s proponents tend to forget that it is an ideology and not the natural end-state of human political evolution. As Patrick Deneen argues in this provocative book, liberalism is built on a foundation of contradictions: it trumpets equal rights while fostering incomparable material inequality; its legitimacy rests on consent, yet it discourages civic commitments in favor of privatism; and in its pursuit of individual autonomy, it has given rise to the most far-reaching, comprehensive state system in human history. Here, Deneen offers an astringent warning that the centripetal forces now at work on our political culture are not superficial flaws but inherent features of a system whose success is generating its own failure.