Recent social policy reforms have sought to overcome the limitations of "First Way" strategies emphasizing the welfare state and "Second Way" approaches advocating markets. Scholars and policymakers instead have begun to explore optimal synthesis of the public and private sector in a new "Third Way" of leadership and change. According to one line…

Describes a computer software program where students define alternative policy sets and compare their effects on the welfare of consumers, producers, and the public sector. Policy sets may be a single tax or quota or a mix of taxes, subsidies, and/or price supports implemented in the marketing chain. (MJP)