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Written by Hugh Morrow
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Wednesday, 06 December 2006 |
Third system: The term “Third System” was created by the European Commission in 1997 and refers to the economic and social fields represented by co-operatives, mutual companies, associations and foundations, as well as all local job creation initiatives intended to respond, through the provision of goods and services, to needs for which neither the market nor the public sector appear able to make adequate provision. On the initiative of the European Parliament, in 1997 the European Commission introduced a new pilot action entitled “Third System and Employment”. The aim of the action was to explore and enhance the employment potential of the “Third System”with an emphasis on the areas of social and neighbourhood services, the environment and the arts (http://europa.eu.int/comm/employment_social/empl&esf/3syst/index_en.htm).
Source: The Non-profit Sector in a Changing Economy, 2003, p12
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