The Third Way draws to an end in the UK

The UK goes to the ballot for its general election today, Thursday. According to the latest prognoses the Labour Party will be the big loser. But no matter what the outcome, the end of an era comes to London today, the liberal daily La Stampa: "The Labour Party was the last remnant of a political idea and an era in which this idea seemed to prevail among the governments of the most important Western countries: the Third Way, which in England was launched by the intellectual activism of British sociologist Anthony Giddens. The Third Way was the refusal to choose between Right or Left; the invention of a third position from which the liberal idea of the market economy was able to merge with the social welfare state. ... History teaches us that reconciling social concepts and a free market economy only works in rich societies. The New Economy of the 1990s and its dramatic disruption in the year 2000 marked the beginning and the end of the social democratic cycle in the West."

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