Unfortunately the likelihood of considering a legitimate third way by those habituated to dueling orthodoxies is probably nil.
A genuine third way would be to restrict all public infrastructure projects to government funding and any ACTUALLY productive enterprise, i.e. the creation of a product or service, to private funding. Both could be originally funded at 0% interest by a central bank/national credit office and rather than continue the fiction that such funding was a loan or bond that was continually rolled over….just tell it like it is and say, “This is a gift given in order to create wealth for the public and for enterprise.
This will eliminate the rent seeking that takes place in PPP’s, allow private banking for actually productive enterprise and with Public Banking as an obviously more economic model than private finance tend to downsize the costs of finance as a whole and on a continuing basis until the real problematic business model of finance “withers away”. Such is the beauty of the genuinely integrative third way that it benefits both profit making systems and results in social betterment by transforming and eventually eliminating the real structural cause of our economic woes.
Of course cutting costs in an inherently cost inflationary system still also requires dividend and discount policies in order for finance not to be still compelled because of the ADDITIONAL costs of ever increasing fixed capital assets and waste, as well as removal of money from the circular flow of the economy.
Finally, everyone still being human we’d still have to have effective regulation to keep private or public banking from deteriorating into bribery, extortion or cronyism. Summary execution comes to mind as does being trotted out in public and kicked in the ass, but my favorite would be something along the lines of this: