The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
In many European countries, politicians are trying to go "beyond left and right" to a Third Way. Most of its protagonists have a close relationship to what in Britain is called New Labor, or sometimes, the "Blair project." In fact, the Third Way debate has become the only game in town -- the only hint at new directions for Europe's politics in a confused multitude of trends and ideas.
The recent paper signed by British Prime Minister Tony Blair and German Chancellor Gerhard Schroeder, entitled Europe: The Third Way -- Die neue Mitte, begins boldly: "Social democrats are in government in almost all the countries of the Union. Social democracy has found new acceptance -- but only because, while retaining its traditional values, it has begun in a credible way to renew its ideas and modernize its programs. It has also found new acceptance because it stands not only for