Ainda sobre o cadáver da terceira via, no Financial Times:

So why is the centre-left by and large not benefiting from the failures of their political opponents? The deep reason lies in its absorption of the policies of the centre-right, going back almost three decades: the acceptance of free trade agreements, the deregulation of everything, and (in the eurozone) of binding fiscal rules and the most extreme version of central bank independence on earth. They are all but indistinguishable from their opponents.

That was not always so. In the 1970s Helmut Schmidt, the fairly conservative social democrat, who was then Germany’s chancellor, tended to drop by at the Bundesbank when it held its policy meetings and dispense his advice. In those days, there were no fiscal rules as we know them today. When the economy contracted in the late 1970s, he used a Keynesian fiscal strategy to counter the effects of the recession. My point is not that it was a better economic policy. Possibly it was not. My point is that the left used policies that were different from those of the right, and that it worked for them politically.


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