The main content of the third road is to affirm the value of the free market on the basis of social democracy, and emphasize policies such as deregulation, decentralization and low taxes.

The name "the third way" was first put forward by Pope Pope Pius XI in A.D. 1900. He thought that capitalism and socialism were inappropriate, and he hoped to find the "third way" between them. Later, people began to study on this road, but the concept at that time was still quite vague.

1938, Harold Macmillan, a representative of the British Conservative Party, wrote a book called The Middle Way. Later, he became the British Prime Minister from 1957 to 1963, and applied this political concept to govern Britain.

In A.D. 1950, this view was developed and perfected as a social market economy by the German order liberalism economist William Lopke.

In the 1960s, ota sik, a famous Czech economist, made great contributions to the creation of the third way.

In the1990s, Thatcher's government and Ronald Reagan's government integrated the ideas of economic deregulation, individualism and globalization into the mainstream left-wing thoughts, and many politicians tended to describe this new policy as "the third way". And this name is often used as another name for neoliberal social and economic policies.

In this way, this thought has become a very important thought in modern European democratic society. Especially for some members of the Social Democratic Party and the American Democratic Party, this idea is the core idea. Tony Blair, leader of the Labour Party, was influenced by British sociologist anthony giddens.

During the election campaign, he put forward the campaign slogan of "the third way". As a result, the Labour Party finally won the general election in 1997 after being in opposition, so it was regarded as a model of the concept of "the third way". Some people mistakenly think that the "third way" was advocated or created by Tony Blair, but it is actually wrong.