The Economics of the Third Way: Experiences from Around the World by Philip Arestis

Description

   

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¡¯, while 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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