Now that the Grand Bargain is upon us, it is time to review the Third Way, initially brought to US politics by Jimmy Carter and later carried forward by Bill Clinton as the compromise with Reaganism. This is is the political philosophy of President Obama, who models himself more on Presidents Reagan and Clinton than FDR. In the UK, it was the position of Tony Blair as the Labour compromise with Thatcherism.
The term Third Way refers to various political positions which try to reconcile right-wing and left-wing politics by advocating a varying synthesis of right-wing economic and left-wing social policies.[1] Third Way was created as a serious re-evaluation of political policies within various centre-left progressive movements in response to the ramifications of the collapse of international belief in the economic viability of the state economic interventionist policies that had previously been popularized by Keynesianism; and the corresponding rise of popularity for neoliberalism and the New Right.[2] The Third Way is promoted by some social democratic and social liberal movements.[3] Third Way social democrats assert that their support of the Third Way is part of their intention to create a modernized social democratic form of socialism while rejecting state socialism, which they regard as "traditional socialism" and to be obsolete.[4][5]
It 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.[6] It emphasizes commitment to: balanced budgets, providing equal opportunity combined with an emphasis on personal responsibility, decentralization of government power to the lowest level possible, encouragement of public-private partnerships, improving labour supply, investment in human development, protection of social capital, and protection of the environment.[7]
The Third Way has been criticized by some conservatives and libertarians who advocate laissez-faire capitalism.[8] It has also been heavily criticized by many social democrats, democratic socialists and communists in particular as a betrayal of left-wing values. Specific definitions of Third Way policies may differ between Europe and America.See Wikipedia — The Third Way for the full article.
You get the drift — buffoonery.
2 comments:
It supports the pursuit of greater egalitarianism in society through action to increase the distribution of skills, capacities, and productive endowments
Wow, Third Way is way more idealistic than I thought. I just thought the D's were tired of getting their butts kicked at fundraising. They noticed that the R.'s spent a couple days a week schmoozing with bankers, oil execs, military contractors,etc., freeing them up to play golf or chase women or whatever the rest of the time. All that pressing the flesh, baby kissing and worn out shoes involved in traditional retail politics is for the birds. If you can't beat 'em join 'em!
Bill Black has been writing damning articles recently about the Third Way organization that is a shill for Wall Street at NEP, which has also been picked up by Naked Capitalism, HuffPo, and others. This supposedly centrist Democratic "think tank" is a major pusher for the attempts to shred the safety net and turn Social Security over to Wall Street. Definitely worth reading. Got to know who the enemies are.
http://neweconomicperspectives.org/2012/11/wall-street-uses-the-third-way-to-lead-its-assault-on-social-security.html
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