STAKEHOLDING AND NEW LABOUR

"Stakeholder capitalism attracted much interest in Britain during the 1990s. Many on the centre-left saw stakeholding as charting a 'Third Way' beyond the policies previously deployed by Labour and the Conservatives. In 1996 Tony Blair made a high-profile speech in Singapore declaring that stakeholding was to be New Labour's big idea in office. This speech provoked fierce criticism and Blair's references to stakeholding were subsequently scaled down. Many concluded that stakeholding had fallen from New Labour's radar almost as swiftly as it had appeared. In Stakeholding and New Labour Rajiv Prabhakar challenges much of this received wisdom. Prabhakar argues first that stakeholding is a more subtle and complex set of ideas than many of its critics supposed. It does in fact furnish a Third Way in public policy. Secondly, although explicit references to it have been reduced, stakeholding remains important in understanding the ideas and policies of New Labour in government."--Jacket.