The Third Way

• It seeks to find a middle ground between socialism and capitalism. Placed more emphasis on eliminating poverty than aiming for economic equality.
• Key thinker:

  1. Anthony Giddens
• Economy:

  free-market capitalism is the most effective and efficient economic system.

  Giddens support for this means he has more in common with the neo-liberals than with revolutionary socialists
• Human nature:

  Same beliefs as social democratic
• Society:

  Giddens rejected nationalisation completely and instead argued the state should unleash "the dynamism of markets" and focus on reinvesting tax yields into public services.

  Giddens was a major influence on the New Labour policies developed by Blair. His ides combine left-wing socialist ideas with right-wing economic ideas
• State:

  state should focus on eradicating poverty rather than economic inequalities.

  Giddens belief that the state should promote equality of opportunity through heavy investment in public services.

  Giddens wrote that the goal of the state should be to create a "post-scarcity society" - one in which every individuals and family has access to sufficient resources to live a fulfilled life. He suggested that the state should aim to empower individuals and communities to take more responsibility for themselves.