"On the one hand there is capitalism, an economic system governed by market forces but where economic power is concentrated in the hands of a few who own or control productive capital. On the other hand, socialism, in its many forms, is an economic system governed centrally by a political elite, with even more highly concentrated ownership and economic power. Logically, a 'third way' would be a free-market system that economically empowers all individuals and families through direct and effective ownership of the means of production--the best check against the potential for corruption and abuse."

The following pieces examine different aspects of the new economic paradigm that CESJ calls "the third way," contrasting it with the existing paradigms of traditional capitalism and socialism.