Blair's Third Way

Tony Blair was a prime minister of Britain after Margeret Thatcher in 1997. Thatcherism was used by the previous minister John Major as well. However, Tony Bliar believed that Thatcherism itself would not promote economic prosperity. He doesn't want to go all in for socialism as well. Instead, he proposed the Third Way. Which is to do both at the same time and adapt through certain situations with different methods. It is a form of mixed economy, an attempt to balance the views of an individualist and that of one from a collectivist.

The third way. A method that combines both liberal economics and socialist economics and tried to find a balance between them.

Blair introduced national minimun wage, which was a collectivist value. He also introduced tuitions for univeristies, which is an individualist value because it was free before. This relates to the ebb and flow of liberal economics because the third way is trying to compromise from both side of the spectrum. It was all in for classical liberalism economics before Blair, now, even though there are some collectivist views from the socialism side, classical liberalism is still embraced and promoted.

Third Way (centrism) - Wikipedia, the free encyclopedia. (n.d.). Wikipedia, the free encyclopedia. Retrieved March 19, 2012, from
Talimonov, A. (n.d.). Third Way by Alexei Talimonov | Politics Cartoon | TOONPOOL. - the free Community for Cartoon Pictures & Caricatures. Retrieved March 19, 2012, from