Zhang Jun^*

School of Management, Chongqing University of Technology

Abstract：

After the rise of neoliberalism in the 1970s, democratic socialism fell into difficulty, which gave rise to the welfare theory of the “Third Way.” On the basis of criticizing the shortcomings of the traditional welfare state, such as excessive reliance on state distribution and neglect of individual responsibility, this theory puts forward the principle of equivalence between responsibility and rights embodied in “no rights without responsibility”, advocates replacing the “welfare state” with the “social investment state”, promotes the transition from passive welfare to positive welfare, and emphasizes human capital investment, risk prevention, and risk sharing among multiple actors. This article further analyzes that the “Third Way” is essentially a liberalizing turn within democratic socialism, and, based on its theoretical implications, explores its implications for the reform of China’s social welfare system: China should maintain the state’s leading responsibility while developing diversified supply mechanisms, coordinate rights and responsibilities as well as efficiency and equity, build a positive social welfare system centered on capacity enhancement and risk prevention, and pursue a Chinese-style path of welfare reform that takes account of both social democracy and marketization.

Key Words：

"Third Way"; social investment state; positive welfare; social democracy and marketization path; Chinese-style path of welfare reform