The "Third Way" is a political philosophy that seeks to reconcile traditional left-wing and right-wing ideologies. It aims to create a balanced approach to governance, combining social justice with market-oriented policies. This concept gained prominence in the 1990s, particularly through leaders like Bill Clinton in the United States and Tony Blair in the United Kingdom. Proponents of the Third Way advocate for a mixed economy, where the government plays a role in regulating markets while also promoting individual entrepreneurship. This approach emphasizes the importance of community and social responsibility, aiming to address issues like poverty and inequality without resorting to purely socialist or capitalist solutions.