Why the Third Way Failed : Economics, Morality and the Origins of the 'Big Society'

In the wake of the economic crash, public policy is in search of a new moral compass. This book explains why the Third Way's combination of market-friendly and abstract, value-led principles has failed, and shows what is needed for an adequate replacement as a political and moral project. It criticises the economic analysis on which the Third Way approach to policy was founded and suggests an alternative to its legalistic and managerial basis for the regulation of social relations. Value, Virtue And Justice -- Snap Judgements And Rational Choices -- Nature, Science And Cosmology -- What Is Economics Good For? -- Moral Regulation : Rituals, Symbols And The Collective Conscience -- In Search Of A Moral Compass -- Sharing Wealth, Income And Work -- Sustaining Quality Of Life -- Conclusions. Bill Jordan. Includes Bibliographical References (p. 205-221) And Index. This insightful and progressive book proposes a new moral approach to public policy to replace Third Way governments' failed attempts to reconcile global markets with ethically-informed public policies.