"Third Way" is the "W"rong way.
I am not familiar with the Third Way group and I don't care to be. If they are writing for the Wall Street Journal, they are writing for Murdoch. Questions?
The FACTS speak for themselves. There has been growing poverty. The working poor exists. The USA has a strong lag in economic growth because the 'wage labor' is poorly paid. That is a fact, there is no reason to discuss it further except to move an increase in the minimum wage further and insure the well being and growth of the unions.
Populism is not based in fact. It can be a legitimate movement and it can be benign, however, it is not based in fact to legitimize governing. Populism results in legislation that FAVORS a group of people able to bring it forward as a national priority. Where has that manifested? The Tea Party. Their ideology is based in a populist movement and cannot be validated in fact. The worst Populist message The Tea Party and the Republican Party have is the 'idea' that Wall Street needs to be unregulated to provide a growing economy. That is not only populist, it is a lie based in historical fact that goes back to the Great Depression.
Populism can put forward 'ideas' such as holidays or days of national significance such as Veteran's Day, but, as a way to structure economic policy is unrealistic to say the least.
It is interesting Income Inequality is becoming an issue the Right Wing believes they have to create a deceptive campaign to prevent. They are scared it might actually become an election issue and even more afraid the movement will succeed. It should succeed. It is the right path for the USA.
