The Difference between the Third Way and Socialism Essay

The Difference between the Third Way and Socialism - Essay Example It has information about Western Europe and Anglo American world. This can include thoughts from western philosophers like Kant, Marx Hegel,Heder , Hobbes, Rousseau and miller. It has ideas and thoughts about industrial revolution in 19th century .In modern political ideas, new political theories and definitions are explored and explained. Modern political ideas suggest that the glimpse shown by social philosophers are more or less unreal and exaggerated. In order to portray political philosophies more realistically, practical matters must be included in them. If we go little deeper into Modern political ideas we can analyze two concepts namely; Third Way and socialism. It is necessary to understand these two concepts in order to analyze or interpret them. These two ideas are separate still share a common link to each other. According to BBC(1999)â€Å"Put at its most basic the third way is something different and distinct from liberal capitalism with its unswerving belief in the me rits of the free market and democratic socialism with its demand management and obsession with the state†. ... It emphasizes on responsibility, obligation and de-centralizing government while giving less importance to income re- distribution. As per Mercer (2005)â€Å"On the world stage, socialism has reinvented itself successfully and has surfaced in the guise of the vaunted Third Way whose main apparatchiks are the Clintons, the pair from Cool Britannia and the German Chancellor, Gerhard Schroeder†. The third way is a middle path where the government will tread on in order to escape the liberal attitude of socialist principles and capitalism view of industrialists. This is a successful method of governing people as citizens will get ownership to property as well as freedom to act on their own. They can also govern themselves regarding their capabilities, rights, property ownership and responsibilities in society. The ideas and principles of third way is not accurate, hence their specification is difficult. There are arguments that third way politicians speak on a double standards. Th e relation of third way with socialism Socialism has reinvented successfully in the new age and new socialist concepts are bandwagon into third way politics. The concepts of third way politics are adhered by social democrats to formulate third way social democracy. The third way democracy proponents argue that it is not socialism and it is â€Å"competition capitalism†. By accepting capitalism the new right is representing social democrats. There is something called centralized socialism and decentralized socialism. However centralized socialism is traditional and decentralized socialism needs to be taken over by the former. The association of state ownership and social ownership has an automatic association and it is followed by traditional