Third Way

http://en.wikipedia.org/wiki/Third_Way_(centrism)
Excerpt:
The Third Way refers to various political positions which try to reconcile right-wing and left-wing politics by advocating a varying synthesis of right-wing economic and left-wing social policies.^[1] Third Way approaches are commonly viewed from within the first- and second-way perspectives as representing a centrist reconciliation between capitalism and state socialist command economy.^[2][3] Less often, the phrase "Third Way" is used to refer to Distributism. Democratic socialism would be an example of a Third Way.^[4] This claim is embodied in the alternative description of the Third Way as the Radical center.
Third Way policies were enacted in the 1980s in Australia by the Hawke/Keating Labor governments.^[5] The most recent prominent examples are the Clinton administrations in the United States as well as 2008 presidential candidate Hillary Clinton,^[6] the Labour Party (New Labour) governments of the United Kingdom under Tony Blair and Gordon Brown, Gerhard Schröder's "Neue Mitte" in Germany^[7] the Liberal Party government of Canada under Jean Chrétien and Paul Martin, the Australian Labor Party under Kevin Rudd, the Polder Model under Wim Kok in the Netherlands, the Democratic Party - demokraci.pl in Poland and the previous Labour government in New Zealand, led by current UNDP Administrator Helen Clark.
The Third Way rejects both laissez-faire and socialist approaches to economic governance, but chiefly stresses technological development, education, and competitive mechanisms to pursue economic ends according to the Democratic Leadership Council.^[8] One of its central aims is to protect the modern welfare state through reforms that maintain its economic integrity.^[9]