Mixed economy
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A '''mixed economy''' is an [[economic system]] that incorporates aspects of more than one economic system. This usually means an economy that contains both [[Property|privately-owned]] and [[Government-owned corporation|state-owned]] [[Business|enterprises]]<ref>[http://dictionary.reference.com/search?q=mixed%20economy ''Mixed economy]. Dictionary.com</ref> or that combines elements of [[capitalism]] and [[Socialist economics|socialism]], or a mix of [[market economy]] and [[planned economy]] characteristics.<ref>
*''Mixed economy'' entry in The Norton Dictionary of Modern Thought by Alan and Trombley, W. W. Norton & Company (1999), p. 535. "A economy in which a substantial number, though by no means all, of the activities of production, distribution and exchange are undertaken by the government, and there is more interference by the STATE than there would be in a MARKET ECONOMY. A mixed economy thus combines the characteristics of both CAPITALISM and SOCIALISM."
*[http://www.bartleby.com/59/18/mixedeconomy.html ''Mixed economy''] entry in The New Dictionary of Cultural Literacy, Third Edition, Houghton Mifflin Company (2002). "An economy that combines elements of capitalism and socialism, mixing some individual ownership and regulation." -
*Dlamini, Bongile P. [http://www.igtn.org/pdfs/124_GENTAvocab.pdf ''What is an economy anyway? How does it Work?''] "A mixed economy is an economy containing the characteristics of both capitalism and socialism. In other words, it is an economy with a combination of both the private and the public ownership of means of production, with some measure of control by the central government."
*[http://www.anz.com/edna/dictionary.asp?action=content&content=mixed_economy ''Mixed economy''] entry in ''The Language of Money'' by Edna Carew. "One containing features of both capitalism and socialism. Australia is a mixed economy, with major state-owned enterprises in communications, transport, banking, energy generation and health services, as well as privately owned enterprises in the same areas. In common with capitalist economies such as the UK and New Zealand, Australian governments are reducing these activities by privatising state-operated businesses. Other examples are seen in eastern Europe and the former Soviet Union, where newly independent states have embraced the principles of private enterprise. China, too, provides a striking illustration of the transition to a mixed economy."
*Diane Kendall, Jane Lothian Murray, Rick Linden. [http://www.sociologyinourtimes3e.nelson.com/chapter13/tutorial_chap13.html ''Sociology In Our Timesictionary, Chapter 13], Nelson, a divions of Thomson Canada Limited (2004). "A mixed economy combines elements of a market economy (capitalism) with elements of a command economy (socialism)."
*[http://www.fast-times.com/dictionarym.html ''Mixed economy''] entry in [http://www.fast-times.com/politicaldictionary.html Political Dictionary], Executive Clarity (2006). "an economy in which elements from the free enterprise system are combined with elements of socialism. Most industrial economies, now including those in the post-communist world, are mixed economies."
*[http://www.house.gov/jec/classics/mises.htm ''The Failure of Economic Interventionism''], Joint Economic Committee Economic Classics, December 1994, No. 2. "With a hubris peculiar to intellectuals and the politicians who expediently latch onto their scribblings, academic and political elites in the West insisted that "socialism prudently applied," by the likes of themselves mostly, could provide a "third path" between pure socialism and capitalism. On this third path, which became known as a "mixed economy," government would selectively and carefully intervene into the free market to "improve" it"
*[[Arthur Schlesinger Jr.|Schlesinger, Arthur Jr.]] [http://www.writing.upenn.edu/~afilreis/50s/schleslib.html ''Liberalism in America: A Note for Europeans''] from The Politics of Hope, Boston: Riverside Press (1962). "The broad liberal objective is a balanced and flexible "mixed economy," thus seeking to occupy that middle ground between capitalism and socialism whose viability has so long been denied by both capitalists and socialists."
*Gorman, Tom. ''The Complete Idiots Guide to Economics'', Alpha Books (2003), p. 9"In a market economy, the private-sector businesses and consumers decide what they will produce and purchase, with little government intervention....In a command economy, also known as a planned economy, the government largely determines what is produced and in what amounts. In a mixed economy, both market forces and government decisions determine which goods and services are produced and how they are distributed."</ref>
There is not one single definition for a mixed economy,<ref>[http://www.google.com/search?hl=en&lr=&oi=defmore&q=define:mixed+economy A variety of definitions for mixed economy.]</ref> but relevant aspects include: a degree of private [[economic freedom]] (including privately owned industry) intermingled with [[planned economy|centralized economic planning]] (which may include intervention for [[environmentalism]] and [[social welfare]], or [[state ownership]] of some of the [[means of production]]).
For some [[state]]s, there is not a consensus on whether they are capitalist, socialist, or mixed economies. Economies in states ranging from the [[United States]]<ref>[http://usinfo.state.gov/products/pubs/oecon/chap2.htm ''How the U.S. Economy Works''] article says "The United States is said to have a mixed economy because privately owned businesses and government both play important roles. Indeed, some of the most enduring debates of American economic history focus on the relative roles of the public and private sectors. The American free enterprise system emphasizes private ownership. Private businesses produce most goods and services, and almost two-thirds of the nation's total economic output goes to individuals for personal use (the remaining one-third is bought by government and business). The consumer role is so great, in fact, that the nation is sometimes characterized as having a 'consumer economy'."</ref> to [[Cuba]]<ref>[http://isla.igc.org/Features/Cuba/cuba1.html The Challenges of Cuba's Economy - An Interview with Dr. Antonio Romero] In 1998 "Transformations have occurred in property ownership, employment systems, and income levels to the extent that today we have a particular kind of mixed economy."</ref> have been termed mixed economies.
==History==
The term "mixed economy" arose in the context of political debate in the [[United Kingdom]] in the postwar period, although the set of policies later associated with the term had been advocated from at least the 1930s<ref name="isbn1-85196-214-X">{{cite book |author=Reisman, David A. |title=Theories of the Mixed Economy (Theories of the mixed economy) |publisher=Pickering & Chatto Ltd |location= |year= |pages= |isbn=1-85196-214-X |oclc= |doi=}}</ref>. Supporters of the mixed economy, including [[R.H. Tawney]]<ref name="isbn0-04-323014-8">{{cite book |author=Tawney, R. H. |title=Equality |publisher=Allen and Unwin |location=London |year=1964 |pages= |isbn=0-04-323014-8 |oclc= |doi=}}</ref>, [[Anthony Crosland]]<ref name="isbn0-8371-9586-1">{{cite book |author=Crosland, A. |title=The Future of socialism |publisher=Greenwood Press |location=Westport, Conn |year=1977 |pages= |isbn=0-8371-9586-1 |oclc= |doi=}}</ref> and [[Andrew Shonfield]] were mostly associated with the [[British Labour Party]], although similar views were expressed by [[Conservative Party (UK)|Conservatives]] including [[Harold Macmillan]].
Critics of the British mixed economy, including [[Ludwig von Mises]] and [[Friedrich von Hayek]], argued that what is called a mixed economy is a move toward socialism and increasing the influence of the state.<ref>Gardner, Martin. ''Whys of a Philosophical Scrivener'', St. Martin's Press (1991), p. 126</ref>
==Philosophy==
The term ''mixed economy'' was coined to identify economic systems which stray from the ideals of either the [[free market]], or various [[planned economy|planned economies]], and "mix" with elements of each other. As most political-economic [[ideology|ideologies]] are defined in an idealized sense, what is described rarely if ever exists in practice. Most would not consider it unreasonable to label an economy that, while not being a perfect representation, very closely resembles an ideal by applying the rubric that denominates that ideal. However, when a system in question diverges to a significant extent from an idealised [[Model (macroeconomics)|economic model]] or [[ideology]], the task of identifying it can become problematic. Hence, the term "mixed economy" was coined. As it is unlikely that an economy will contain a perfectly even mix, mixed economies are usually noted as being skewed towards either [[private ownership]] or [[public ownership]], toward [[capitalism]] or [[socialism]], or toward a [[market economy]] or [[command economy]] in varying degrees.
'''Which economies are mixed?'''
[[Image:The farmer's market near the Potala in Lhasa.jpg|thumb|right|Private investment, freedom to buy, sell, and profit, combined with [[economic planning]] by the state, including significant regulations (e.g. wage or price controls), taxes, tariffs, and state-directed investment.]]
There is not a consensus on which economies are capitalist, socialist, or mixed. It may be argued that the historical tendency of power holders in all times and places to limit the activities of market actors combined with the natural impossibility of monitoring and constraining all market actors has resulted in the fact that, as we understand a "mixed economy" being a combination of governmental enterprise and free-enterprise, nearly every economy to develop in human history meets this definition.
==Elements of a mixed economy==
'''The elements of a mixed economy typically include a variety of [[freedom (political)|freedoms]]:'''
[[Image:Tgv sud est.jpg|thumb|right|A [[TGV]] train in [[Paris]] operated by the publicly owned [[SNCF]]. In many countries, the [[Rail transport|rail network]] is partly or completely, owned or controlled, by the state.]]
[[Image:Small USPS Truck.jpg|thumb|right|A mail truck. Restrictions are sometimes placed on private [[mail]] systems by mixed economy governments. For example, in the U.S., the [[United States Postal Service|USPS]] enjoys a [[government monopoly]] on nonurgent letter mail as described in the [[Private Express Statutes]].]]
[[Image:NHS NNUH entrance.jpg|thumb|right|This [[hospital]] run by the [[National Health Service]] in the [[United Kingdom]]. In most countries the state plays some role in the provision of [[health care]].]]
* to possess [[means of production]] (farms, factories, stores, etc.)
* to participate in managerial decisions ([[cooperative]] and [[participatory economics]])
* to [[Freedom of movement|travel]] (needed to transport all the items in commerce, to make deals in person, for workers and owners to go to where needed)
* to [[buy]] (items for personal use, for resale; buy whole enterprises to make the organization that creates wealth a form of wealth itself)
* to [[sell]] (same as buy)
* to [[Recruitment|hire]] (to create organizations that create wealth)
* to [[Termination of employment|fire]] (to maintain organizations that create wealth)
* to [[organize]] (private enterprise for profit, labor unions, workers' and professional associations, non-profit groups, religions, etc.)
* to [[communicate]] (free speech, newspapers, books, advertisements, make deals, create business partners, create markets)
* to [[protest]] peacefully (marches, petitions, sue the government, make laws friendly to profit making and workers alike, remove pointless inefficiencies to maximize wealth creation)
'''with tax-funded, [[Subsidy|subsidized]], or state-owned factors of production, infrastructure, and services:'''
* libraries and other [[information]] services
* roads and other [[transportation]] services
* schools and other [[education]] services
* hospitals and other [[health]] services
* banks and other [[financial]] services
* telephone, mail and other [[communication]] services
* electricity and other [[energy]] services (eg oil, gas)
* water systems for drinking, agriculture, and waste disposal
* subsidies to agriculture and other businesses
* [[government-granted monopolies]] to otherwise private businesses
* [[law|legal assistance]]
'''and providing some autonomy over personal finances but including involuntary spending and investments such as [[transfer payments]] and other cash benefits such as:'''
* [[welfare (financial aid)|welfare]] for the poor
* [[social security]] for the aged and infirm
* government [[Subsidy|subsidies]] to business
* mandatory [[insurance]] (example: automobile}
'''and restricted by various laws, regulations:'''
* [[Environmental science|environmental]] regulation (example: toxins in land, water, air)
* [[labour (economics)|labor]] regulation including minimum wage laws
* [[consumer]] regulation (example: product safety)
* [[antitrust]] laws
* [[intellectual property]] laws
* [[Incorporation (business)|incorporation]] laws
* [[protectionism]]
* import and export controls, such as tarrifs and quotas
'''and [[tax]]es and fees written or enforced with manipulation of the [[Economics|economy]] in mind.'''
==Relation to form of government==
The mixed economy is most commonly associated with [[social democratic]] forms of government. However, given the broad range of economic systems that can be described by the term, most forms of government are consistent with some form of mixed economy.
==Historic examples==
[[American School (economics)|American School]] (also known as the National System<ref> [http://www.econlib.org/LIBRARY/YPDBooks/List/lstNPE14.html The Library of Economics and Liberty] on-line Book titled ''The National System of Political Economy'' by [[Friedrich List]]</ref>) is the economic philosophy that dominated [[United States]] national policies from the time of the [[American Civil War]] until the mid-twentieth century as the country's policies evolved in a [[free market]] direction. It consisted of a three core policy initiatives: protecting industry through high tariffs (1861-1932) (changing to subsidies and reciprocity from 1932-1970's), government investment in infrastructure through internal improvements, and a national [[bank]] to promote the growth of productive enterprises.<ref> (Boritt, Richardson, Lind)</ref> During this period the United States grew into the largest economy in the world{{Fact|date=February 2008}} with the highest standard of living{{Fact|date=February 2008}}, surpassing the British Empire by the first half of the 20th century<ref>The Making of Modern British Politics, Martin Pugh</ref> <ref>Global Political Economy, Robert O'Brien and Marc Williams</ref>.
[[Dirigisme]] is an economic policy initiated under [[Charles de Gaulle]] of [[France]] designating an economy where the government exerts strong directive influence. It involved state control of a minority of the industry, such as transportation, energy and telecommunication infrastructures, as well as various incentives for private corporations to merge or engage in certain projects. Under its influence France experienced what is called "Thirty Glorious Years" of profound economic growth.<ref> (Gardner)</ref>
[[Social market economy]] is the economic policy of modern [[Germany]] that steers a middle path between [[socialism]] and [[liberalism]] and aims at maintaining a balance between a high rate of economic growth, low inflation, low levels of unemployment, good working conditions, public welfare and public services by using state intervention. Under its influence Germany has emerged from desolation and defeat to become an industrial giant within the European Union.<ref> (Gardner)</ref>
Although nominally socialist, the economy of Syria is in practice a mixed economy comprising large state enterprises and small businesses.
== Modern U.S. economy ==
The U.S. is considered a mixed economy. Some examples of this include:
*People can own their own businesses, but political leaders make policies concerning these.
*The government controls the mail system.
*The government controls most of the road networks.
*Waste collection and treatment are usually provided as a service by the local government.
*The government has a virtual monopoly on the provision of policing.
*Intercity passenger rail ([[Amtrak]]) is a nationalized industry, as are almost all local trains.
*All American airports are government operated but all American airlines are private.
*The government tells manufacturers what to make if something is in need during war time.
*The FDA bans certain drugs.
*The government has created a minimum wage law.
*The government provides social welfare payments to some citizens.
*The majority of pre-college education is government-provided and a large part of tertiary education is run by state governments.
=="Third way" politics==
:''This section is about a political philosophy; for other uses, see [[Third way|Third way (disambiguation)]].''
[[Image:Clinton Blair.jpg|thumb|right|[[Bill Clinton]] and [[Tony Blair]], adherents of the "Third Way"]]
The '''Third Way''', or [[Radical center (politics)|Radical center]], is a [[centrist]] political philosophy of governance that embraces a mix of [[free-market|market]] and [[Economic interventionism|interventionist]] philosophies. The Third Way rejects both [[socialism]] and [[laissez-faire]] approaches to economic governance, but chiefly stresses technological development, education, and competitive mechanisms to pursue economic progress and governmental objectives.<ref name="Democratic Leadership Council, About the Third Way">{{cite web|url=http://www.ndol.org/ndol_ci.cfm?kaid=128&subid=187&contentid=895|title=Democratic Leadership Council, About the Third Way|accessdate=2007-07-07}}</ref> Third way philosophies have been described as a synthesis of capitalism and socialism by its proponents.<ref name="Dale, R. (4 April, 2000). Thinking Ahead / Commentary : What the 'Third Way' Is Really About. ''The International Herland''.">{{cite web|url=http://www.iht.com/articles/2000/04/04/think.2.t.php|title=Dale, R. (4 April, 2000). Thinking Ahead / Commentary : What a 'Third Way' Is Really About. ''The International Herland''.|accessdate=2007-07-07}}</ref>
Past invocations of a political 'third way' have included the [[Fabian Society|Fabian Socialism]], [[John Maynard Keynes|Keynesian]] economics, [[Franklin Roosevelt]] and [[Harold Macmillan]]'s 1950s [[One Nation Conservatism]]. [http://www.google.com/search?q=cache:cs-AGTnAUR0J:www.utas.edu.au/government/APSA/KMcCrackenfinal.pdf&hl=en&gl=uk&ct=clnk&cd=1] The third way has been criticized by some conservatives and libertarians who advocate laissez-faire capitalism.<ref name="Bashan, P. (5 November, 2002). Is the Third War at a Dead End? ''Cato Institute''.">{{cite web|url=http://72.14.253.104/search?q=cache:NMYDW2TI_1MJ:www.cato.org/pub_display.php%3Fpub_id%3D4173+%22third+way%22+%22center+left%22&hl=en&ct=clnk&cd=11&gl=us|title=Bashan, P. (5 November, 2002). Is the Third War at a Dead End? ''Cato Institute''.|accessdate=2007-07-07}}</ref> A "Third Way" approach has been adopted by some [[Social democracy|social democrats]] and [[Social liberalism|social liberals]] in many Western liberal democracies.<ref>{{cite web|url=http://www.ndol.org/ndol_ci.cfm?kaid=128&subid=187&contentid=895|title=Democratic Leadership Council. (1 June, 1998). About the Third Way.|accessdate=2007-07-11}}</ref>
===Origins===
The use of the term extends back at least as far, to when [[Pope Pius XI]] called for a Third Way between [[Socialism]] and [[Capitalism]] at the end of the 1800s.<ref>[http://www.netnexus.org/library/papers/3way.html#history Third Way Debate Summary<!-- Bot generated title -->]</ref> These ideas were implemented by both [[progressives]] and [[fascists]] in the early 20th Century. [http://72.14.209.104/search?q=cache:cs-AGTnAUR0J:www.utas.edu.au/government/APSA/KMcCrackenfinal.pdf&hl=en&gl=uk&ct=clnk&cd=1]
The Third Way philosophy was developed in the 1950s by German [[Ordoliberalism|ordoliberal]] economists such as [[Wilhelm Röpke]], resulting in the development of the concept of the [[social market economy]].
The term was later used by politicians in the 1990s who wished to incorporate [[Margaret Thatcher]] and [[Ronald Reagan]]'s projects of economic deregulation, privatization, and [[globalization]] into the mainstream [[centre-left]] political parties (following the [[History of socialism#Contemporary socialism|crisis of socialism]] after the fall of the [[Berlin Wall]]).
A leading defender of the spread of Third Way influence in modern democracies has been British sociologist [[Anthony Giddens]]. Giddens regularly expounds on Third Way philosophy through contributions to progressive policy think tank [[Policy Network]]. Robert Putnam, Ian Winter (Latham cites Winter's "''Social Capital and Public Policy in Australia''" on p. 13 of the Latham diaries), and Mark Lyon are amongst a range of academics who have recently contributed key academic theory behind Third-Way politics.
===Examples===
The Third Way is currently prominent in Europe, but has adherents in the Americas and Asia. It is endorsed by some European [[social democracy|social democratic]] parties, as well as by some members of the [[Democratic Party (United States)|Democratic Party of the United States]] (see below). Former Australian Prime Minister [[Paul Keating]] is often cited as a key proto-Third Way leader.
====Australia====
Under the [[centre-left]] [[Australian Labor Party]] from 1983 to 1996, the [[Bob Hawke]] and [[Paul Keating]] governments pursued many economic policies associated with [[economic rationalism]], such as [[Floating currency|floating]] the [[Australian Dollar]], privatisation of [[Qantas]] and [[Commonwealth Bank]], reductions in trade [[tariff]]s, taxation reforms, changed from wage-fixing to [[Enterprise Bargaining Agreement|enterprise bargaining]], deregulated the banking system and other economic deregulation.
====United Kingdom====
Former Prime Minister [[Tony Blair]] of the [[United Kingdom]] is cited as a Third Way politician.<ref>[http://www.third-way.info/blairclinton.html www.third-way.info is coming soon!<!-- Bot generated title -->]</ref> <ref>[http://observer.guardian.co.uk/leaders/story/0,6903,1478980,00.html Leader: Blair's new third way | Politics | The Observer<!-- Bot generated title -->]</ref> Blair is a particular follower of the ideas of [[Anthony Giddens]].<ref>[http://news.bbc.co.uk/1/hi/uk_politics/298465.stm BBC News | UK Politics | All aboard the Third Way<!-- Bot generated title -->]</ref>
[[Harold Macmillan]]'s book ''The Middle Way'', first published in 1938, is also written from broadly this centrist position.
====United States====
In the [[United States]], Third Way adherents emphasize [[fiscal conservatism]], some replacement of [[welfare (financial aid)|welfare]] with [[workfare]], and a stronger preference for market solutions to traditional problems (as in [[pollution market]]s), while rejecting pure [[laissez-faire]] economics and other [[Libertarianism|libertarian]] positions. The Third Way style of governing was firmly adopted and partly redefined during the [[Clinton Administration|Administration]] of President [[Bill Clinton]].<ref>The Survivor:Bill Clinton in the White House, John F Harris, Random House, 2005</ref>
After [[Tony Blair]] came to power in the [[UK]] Clinton, Blair and other leading Third Way adherents organized conferences to promote the Third Way in 1997 at [[Chequers]] in [[England]].<ref>The Clinton Wars, Sidney Blumenthal, Farrar, Straus and Giroux, 2003</ref> <ref>[http://news.bbc.co.uk/1/hi/world/europe/771608.stm BBC News | EUROPE | 'Third Way' gets world hearing<!-- Bot generated title -->]</ref> The [[Democratic Leadership Council]] are adherents of Third Way politics.<ref>[http://www.ndol.org/ndol_ci.cfm?kaid=128&subid=187&contentid=895 DLC: About The Third Way<!-- Bot generated title -->]</ref>
In 2004, several veteran U.S. Democrats founded a new Washington, DC organization entitled [[Third Way]], which bills itself as a "strategy center for progressives."<ref>[http://www.third-way.com/ Third Way:<!-- Bot generated title -->]</ref>
====Other====
Other leaders who have adopted elements of the Third Way style of governance include [[François Bayrou]] of [[France]], [[Gerhard Schröder]] of [[Germany]]<ref>[http://news.bbc.co.uk/1/hi/world/europe/771608.stm BBC News | EUROPE | 'Third Way' gets world hearing<!-- Bot generated title -->]</ref>, [[Ferenc Gyurcsány]] of [[Hungary]], and Zafarullah Khan Jamali of Pakistan, whose book's preface was written by [[Anthony Giddens]].
===Criticism===
In the 1920s, [[Ludwig von Mises]], a [[libertarian]] [[Austrian School]] economist and classical liberal thinker, accused the "middle way" of mixing capitalism and socialism. In his book ''[[Liberalism (book)|Liberalism]]'' Mises wrote, "There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way."<ref>Mises, Ludwig von [http://www.mises.org/liberal/ch2sec5.asp] ''[[Liberalism (book)|Liberalism]]'', 1927. (Source English translation, 1985.)</ref> Advocates of [[laissez-faire]] [[capitalism]] continue to be staunch opponents of a mixed economy, the "third way." In 1990, after the fall of his country's communist government, Czechoslovakia's finance minister, [[Václav Klaus]], declared, "We want a market economy without any adjectives. Any compromises with that will only fuzzy up the problems we have. To pursue a so-called Third Way is foolish. We had our experience with this in the 1960s when we looked for a socialism with a human face. It did not work, and we must be explicit that we are not aiming for a more efficient version of a system that has failed. The market is indivisible; it cannot be an instrument the hands of central planners."<ref>[http://www.reason.com/news/show/34729.html No Third Way Out: Creating A Capitalist Czechoslovakia] ''Reason'', June 1990. Accessed April 22, 2007.</ref> More recently, a critic of capitalist-socialist hybridization wrote, "Third-Way economics is merely another political trial balloon. The politicians are still simply trying to twist fattened, round socialism into a lean, square, free-market hole, mainly to solicit our vote."<ref>Delay, Katy Harwood. [http://mm.mises.org/fullstory.aspx?Id=1585 ''The return of the Third Way'']. [[Ludwig von Mises Institute]]. Accessed April 22, 2007.</ref>
Third way is sometimes described as an idea of former [[social democracy|social-democrat]]s which replaces [[socialism]] with capitalism and a minimum of socialism, and a strategy to bring the social-democratic parties back to power where they have lost elections. For example, [[Slavoj Zizek]] argues that the notion of the Third Way emerged as the only alternative to the victorious global capitalism and its notion of [[liberal democracy]] when the [[Second World|Second Way]] crumbled.<ref>Slavoj Zizek, ''[http://www.lrb.co.uk/v21/n21/zize01_.html Attempts to Escape the Logic of Capitalism]''</ref> Critics argue that third way politicians are in favour of ideas and policies that ultimately serve the interests of corporate power and the wealthy at the expense of the working class and the poor. Some also classify the Third Way as [[neosocialism]] or "[[neoliberalism]] with a social touch".<ref>[http://www.ejpd.admin.ch/ejpd/en/home/dokumentation/red/2006/2006-05-18.html Neosocialism versus Neoliberalism?<!-- Bot generated title -->]</ref><ref>[http://www.findarticles.com/p/articles/mi_m1282/is_n16_v49/ai_19722907/print National Review: Reinventing socialism: the triumph of neosocialism is the defining characteristic of politics today<!-- Bot generated title -->]</ref>
==See also==
:''Note: Quotes in this section indicate content taken from the article in question.''
*[[Social Democracy]] "A socialist movement that advocates a mixed economy of private and public ownership combined with a welfare state."
*[[Corporatism]] "Historically, corporatism or corporativism (Italian corporativismo) is a political system in which legislative power is given to corporations that represent economic, industrial and professional groups."
*[[Nationalization]] "is the act of taking assets into [[public ownership|state ownership]]."
*[[Economic pluralism|Pluralism]] "In a pluralistic society, power and decision-making (and the ownership of the results of exercising power) are more diffused."
*[[Public sector]] "is that part of economic and administrative life that deals with the delivery of goods and services by and for the government."
*[[Public-private partnership]] "a system in which a government service or private business venture is funded and operated through a partnership of government and one or more private sector companies."
*[[Statism]] "is a term to describe any [[economic system]] where a [[government]] implements a significant degree of [[Planned economy|centralized economic planning]]"
*[[Welfare state]] "In many "welfare states", welfare is not actually provided by the state, but by a combination of independent, voluntary, mutualist and government services."
*[[Social Market Economy]] "The social market economy seeks a middle path between socialism and capitalism (i.e. a mixed economy)."
;Third way
*[[Radical center (politics)|Radical center]]
*[[Centrism]]
*[[Centrist Party (United States)]]
{{ideology-small}}
==Further reading==
* Barr, Nicholas (“Economic theory and the welfare state: a survey and interpretation.” ''Journal of Economic Literature'', 30(2): 741-803. 1992, a review essay looking at the economics literature
* Berkowitz, Edward D. (1991) ''America’s Welfare State: From Roosevelt to Reagan.'' The Johns Hopkins University Press.
* Buchanan, James M. (1986) ''Liberty, Market and State: Political Economy in the 1980s'' New York University Press.
* Cronin, James E. (1991) The Politics of State Expansion: War, State and Society in Twentieth-Century Britain. New York: Routledge.
* Derthick, Martha and Paul J. Quirk (1985) The Politics of Deregulation. Washington, DC: The Brookings Institution.
* Sanford Ikeda; ''Dynamics of the Mixed Economy: Toward a Theory of Interventionism'' London: Routledge 1997
;Third way
* ''The Third Way'' by Anthony Giddens (ISBN 0-7456-2267-4), followed by ''The Third Way And Its Critics'' (ISBN 0-7456-2450-2)
* [http://www.netnexus.org/library/papers/3way.html NEXUS Third Way Debate Summary]
* [http://www.guardian.co.uk/g2/story/0,3604,988388,00.html Why Tony is not a guitar-wielding facist <nowiki>[sic]</nowiki> dictator]; ''[[The Guardian]]'', [[July 1]], [[2003]]—about [[Benito Mussolini|Mussolini]] and Blair.
* [http://www.third-way.com Third Way] a strategy center for U.S. progressives
* [http://www.sourcewatch.org/index.php?title=Third_Way_Foundation Sourcewatch.org entry on the Third Way Foundation]
* [http://www.thirdway.org/files/articles/blairs.html The Third Way - an Answer to Blair] by Patrick Harrington
* [http://www.policy-network.net Official website of Policy Network]
* [http://www.sussex.ac.uk/Users/ssfa2/leftrightandthethirdway.pdf 'Left, Right and the Third Way'] - on the third way's mix of left and right.
* [http://www.sussex.ac.uk/Users/ssfa2/third%20way%20and%20beyond.html The Third Way and Beyond: Criticisms, Futures, Alternatives] book looks at criticism of the third way.
==Sources and notes==
{{reflist}}
*Gill: "By 1880 the United States of America had overtaken and surpassed England as industrial leader of the world.: (from "Trade Wars Against America: A History of United States Trade and Monetary Policy" Chapter 6 titled "America becomes Number 1" pg. 39-49 - published 1990 by Praeger Publishers in the USA - ISBN 0-275-93316-4)
*Lind: "Lincoln and his successors in the Republican party of 1865-1932, by presoding over the industrialization of the United State, foreclosed the option that the United States would remain a rural society with an agrarian economy, as so many Jeffersonians had hoped." and "...Hamiltonian side...the Federalists; the National Republicans; the Whigs, the Republicans; the Progressives." (from "Hamilton's Republic" Introduction pg. xiv-xv - published 1997 by Free Press, Simon & Schuster division in the USA - ISBN 0-684-83160-0)
*Lind: "During the nineteenth century the dominant school of American political economy was the "American School" of developmental economic nationalism...The patron saint of the American School was Alexander Hamilton, whose Report on Manufactures (1791) had called for federal government activism in sponsoring infrastructure development and industrialization behind tariff walls that would keep out British manufactured goods...The American School, elaborated in the nineteenth century by economists like Henry Carey (who advised President Lincoln), inspired the "American System" of Henry Clay and the protectionist import-substitution policies of Lincoln and his successors in the Republican party well into the twentieth century." (from "Hamilton's Republic" Part III "The American School of National Economy" pg. 229-230 published 1997 by Free Press, Simon & Schuster division in the USA - ISBN 0-684-83160-0)
*Richardson: "By 1865, the Republicans had developed a series of high tariffs and taxes thar reflected the economic theories of Carey and Wayland and were designed to strengthen and benefit all parts of the American economy, raising the standard of living for everyone. As a Republican concluded..."Congress must shape its legislation as to incidentally aid all branches of industry, render the people prosperous, and enable them to pay taxes...for ordinary expenses of Government." (from "The Greatest Nation of the Earth" Chapter 4 titled "Directing the Legislation of the Country to the Improvement of the Country: Tariff and Tax Legislation" pg. 136-137 published 1997 by the President and Fellows of Harvard College in the USA - ISBN 0-674-36213-6)
*Boritt: "Lincoln thus had the pleasure of signing into law much of the program he had worked for through the better part of his political life. And this, as Leornard P. Curry, the historian of the legislation has aptly written, amounted to a "blueprint for modern America." and "The man Lincoln selected for the sensitive position of Secretary of the Treasury, Salmon P. Chase, was an ex-Democrat, but of the moderate cariety on economics, one whom Joseph Dorfman could even describe as 'a good Hamiltonian, and a western progressive of the Lincoln stamp in everything from a tariff to a national bank.'" (from "Lincoln and the Economics of the American Dream" Chapter 14 titled "The Whig in the White House" pg. 196-197 published 1994 by University of Illinois Press in the USA - ISBN 0252064453
[[Category:Economies]]
[[Category:Economic ideologies]]
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