Sweden and the 'Third Way'
A Macroeconomic Evaluation
This title was first published in 2003. The creation of a 'Third Way' between unfettered capitalism and old-style Keynesian-corporatist forms of social democracy has become the driving force behind the policy programmes of many left-of-centre political parties in the industrialised nations of the world today. Sweden and the 'Third Way' critically evaluates this 'new' social democracy by examining the profound shift in Swedish political economy from being the prototype old-style social democracy towards the 'Third Way' synthesis of neo-liberalism and elements of traditional social democracy. Philip Whyman evaluates internal and external challenges to Swedish macroeconomic policy - including globalisation, European integration, post-Fordist technological change and the relative empowerment of capital - to discover the extent to which national economic autonomy is constrained. Furthermore, he considers the plausibility of revising the core elements of the traditional 'Swedish Model' as an alternative to the prevailing macroeconomic platform.
Table of Contents
Contents: Introduction; The 'Third Way' - explored; Laying the foundations of the Swedish model; The Rehn-Meidner model; Limitations to stage two Keynesianism; Wage-earner funds: stage three Keynesianism; Back to the future; Globalisation and national economic self-determination; European integration and the 'Swedish model'; Technological change and the SAF offensive; A 'New start for Sweden'; 'New' Swedish social democracy; Traditional social democracy to 'Third Way'?; Bibliography; Index.
Philip Whyman, Dr, Reader in Economics, Lancashire Business School, University of Central Lancashire
'This book is an ambitious attempt to synthesis several key developments within contemporary economics - the notion of a 'Third Way' and national economic policymaking. It firstly explores the fashionable concept of the 'Third Way' and places it in context of other versions of social democracy. It then utilises Sweden and its long established system of social democracy given its unique position as an industrialised nation from which to explore this issue. In summary, this book provides a welcome addition to the literature by providing a unique applied analysis of the 'Third Way' and the Swedish social democracy model.' Dr Mark Baimbridge, University of Bradford, UK