The Third Way is a term that has historically been used to refer to a variety of Western political ideologies (especially in the United States) that position themselves as an alternative to or reconciliation between opposed extremes. This is distinct from the claims of most third-party politics, which usually emphasize the faults of the two-party system in general and the two parties specifically. In the 21st century, the Third Way refers specifically to a movement largely within the Democratic Party (and in the United Kingdom, the Labor Party), in which a new, centrist position was adopted, beginning in the mid-1980s. The Third Way shares liberalism’s egalitarian goals and conservatism’s commitment to capitalism and fiscal responsibility.

Centrism has defined every Democratic presidency since Jimmy Carter. Bill Clinton ...

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