In search of a moral compass

Bill Jordan

in Why the Third Way failed

Published by Policy Press

Published in print October 2010 | ISBN: 9781847426567
Published online March 2012 | e-ISBN: 9781447304296 | DOI:
In search of a moral compass

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This chapter argues that the Third Way confined its conception of moral regulation through community to a limited field: the attempt to restore order and cohesion in areas devastated by the market-friendly policies of the Reagan–Thatcher years. The Third Way failed to recognise that the individualistic basis of the mainstream social order concealed a wide range of injustices and exploitations which have become apparent in the economic crash. Once its economic model failed, the questions begged by its ‘social contract’ demanded to be answered. Instead of approaching these issues from the perspective of a systematic, abstract justification of the arrangements supposed to create conditions for justice, the chapter builds on the sense of injustice among ordinary people for its moral intuitions.

Keywords: Ronald Reagan; Margaret Thatcher; social order; Third Way; economic crash; moral institutions; injustice

Chapter.  7920 words. 

Subjects: Economic Sociology

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