The political economy of the third way: the relationship between globalisation and national economic policy

Lee, D; Lee, Simon

Abstract

An analysis of the relationship between globalisation and national economic policy by focusing upon the political economy of the third way developed by the Blair and Brown Governments. The chapter concludes that the onset of the severest global recession since the Great Depression has shown how the third way overestimated the capacity of national governments to manage the economic, political and social consequences of the risk, volatility and contagion that is characteristic of liberalised global markets.

• Publication Date: Apr 29, 2011
• Pages: 407 - 419
• Edition: second
• Book Title: The Handbook of Globalisation
• ISBN: 978-1-84980-369-4
• APA6 Citation: Lee, D., & Lee, S. (2011). The political economy of the third way: the relationship between globalisation and national economic policy. The Handbook of Globalisation, 407 - 419. (second). Edward Elgar Publishing Ltd
• Keywords: Globalization; Third Way; modernization; political economy; New Labour