The Economics of the Third Way: Experiences from Around the World

by Philip Arestis (Editor), Malcolm Sawyer (Editor)

Overview

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.

Product Details

ISBN-13:	9781840644593
Publisher:	Edward Elgar Publishing
Publication date:	11/26/2001
Pages:	240
Product dimensions:	6.30(w) x 9.30(h) x 1.00(d)

About the Author

Edited by Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK and Malcolm Sawyer, Emeritus Professor of Economics, University of Leeds, UK

Table of Contents

Contents: 1. Economics of the ‘Third Way’: Introduction 2. The Third Sociological Way 3. European Employment Policies: A New Social Democratic Model for Europe? 4. Economics of the British New Labour: An Assessment 5. Anatomy of Clintonomics 6. Social Democratic Policy and Economic Reality: The Canadian Experience 7. The Third Way: Italian Experiments 8. Distribution and Growth: Can the New Left Deal with the Neo-Schumpeterian ‘Accord’? Some Comments on the French Experience 9. The Austrian Way: Economic and Social Partnership 10. The Economic Policy of the Spanish Socialist Governments: 1982–96 11. The Greek Experiment with the Third Way 12. South Africa: A Third Way in the Third World? 13. Coping with Globalisation: Australian Economic Policy and the Third Way Index