1Īiming to revive social democratism as a progressive project, the third way included an acceptance of the market as a superior mechanism for arriving at most social outcomes. Though Giddens compiled a longer list of its defining features, today the third way mainly signifies the synthesis between centre-right economic platforms and centre-left social policy ambitions that was first embraced by centre-left and social democratic parties in response to electoral defeats in the 1980s and 1990s. Historically, the label represented an alternative to the dominant political groups of the left and the right, but British sociologist Anthony Giddens gave the term a specific meaning in the 1990s when he used it to describe an alternative to both neoliberalism and social democracy in an era of globalization. The so-called third way occupies a central role in the market turn that has taken place across the Western world since the 1970s.
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