Is The Third Way a choice between Capitalism and Socialism?

Is there The Third Way (centrism)a choice between Capitalism and Communism or Socialism? This is just a question. You may know more than me about the new capitalism, because I spent 47 years in the Soviet Union dominated socialist Romania and only twenty in the USA.

Please feel free to comment on my blog: "Ernest's Dialogues"

How the socialists think about "The Third Way"

There are some experiments made to change the Socialism. I included them to define "The Third Way" (centrism) concept. Is it "the Socialism with a human face"? Certainly not, that was Ceausescu's Socialism.

There is a Chinese "pragmatic way" coming after the Soviet Union collapse. Here it is the Deng Xiaoping's famous quotation that says a lot to me:

"I don't care if it's a white cat or a black cat. It's a good cat so long as it catches mice."

China is "one country two systems" and the current Western financial crisis did not slow them too much.

How the Capitalists adapted to Socialism influence after 1917

On the other side of the world, in Western Europe and Russia the USA Capitalism is criticized when the government is creating markets for big corporations. The name for it is the "State Capitalism." It describes the close relationship between the government and private capitalism, where the private capitalists produce for a guaranteed market.

An example of this would be the military-industrial complex where autonomous entrepreneurial firms produce for lucrative government contracts and are not subject to the discipline of competitive markets.

At the opposite end is the "laissez-faire capitalism" where big business is not protected from market forces. Laissez faire capitalism favor individual self-interest and competition, and oppose the taxation and regulation of commerce.

So many ideas are coming from all directions including Great Britain with Tony Blair's "Centrist way."

Even The United States have a long history of "social democratic programs" to name a few: Social Security, Medicare, etc.

I did not coined the Third Way look at The "Centrist Way" on Wikipedia.

I have a problem with idea to give properties away to everybody just to create more "capitalists" for the sake of it.

Landing mortgages to anybody - kind of redistribution of wealth done after 2002 in the USA - was the root cause of real estate bobble and today's financial crisis. I bet this kind of ideas are coming from the socialist camp.

The financial crooks took the opportunity and abused the capitalist system after 2002 to the point we do not know today who did the most damage to our financial system, the crooks or the government by forcing the banks to lend mortgages to everybody with a name. See NO DOC/STATED INCOME mortgage related article.

Apparently the Laissez-Faire capitalism did not work well in the USA financial markets and the State capitalism is working overtime now to correct the rules of the financial market games.

Obama works to avoid being exciting - Yahoo! NEWS 4/30/2009 and it is still actual today in 2010
Polls show Obama is more popular for his personal qualities than the specifics of his historically far-reaching agenda. He has a need to frame that agenda to make it seem more a matter of hard, practical necessity than a reflection of his own ideological ambitions.

After first year in office as president of the U.S.A. , Barack Obama sees himself simultaneously trying to save the capitalism - the government nationalized debts not the banks - fight two wars and prevent a big recession home.

The historic Medical Insurance overhaul passed into law recently. The markets regulatory mechanism will be next. Are these baby steps to a left wing capitalism?

My recommendations

The above conversation will be a long one. Before going even further I suggest to take a deep breath and start reading my pages about "What is the Socialism?" or better "What was Ceausescu's Communism?", "Romania at Historic Crossroads", or "The Escape - Confession of a Refugee"

Return to "What was Ceausescu's Communism?"

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