The economics and the politics of the third way

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The present Third Way has been discussed for some years in newspapers, journals and others. This has been done mainly from a sociological perspective. The most important aspects of the British Third Way and the German equivalent, die Neue Mitte (the new middle), are analysed in this book. Themes are also, among other topics, the Swedish experience, prospects of such an approach for transition economies and the recent European employment initiative. The aim is to give a balanced overview about the pros and cons of the new third way policies from economists and political scientists in honour of Dr. Eric Owen Smith, Loughborough University, United Kingdom. He has been for many years one of the most established British experts on a 'traditional' Third Way, the German Soziale Marktwirtschaft (Social Market Economy).